Page 174 - F1 Integrated Workbook STUDENT 2018
P. 174
Chapter 10
Revaluation gains: Dr asset cost
Dr accumulated depreciation
Cr revaluation reserve
Revaluation losses: Cr asset cost
Dr accumulated depreciation
Dr revaluation reserve (up to maximum for that asset)
Dr excess to profit or loss
Always pay attention to the DATE of the revaluation for adjustments for
depreciation!
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