HI,
When we revalue our assets during the process of internal reconstruction, will the :-
1. Revaluation Account will be affected
Or
2. Reconstruction ( Capital Reduction ) Account wiil be affected.
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Entry during reconstruction
Replies (2)
Reconstruction A/c will be affected.
If u r under the capital reduction scheme then reconstruction account affected.. Otherwise if u overvalued any fixed assets under genrally acceptable company practice then revalyation account created/affected by passing book entry.
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