banner_ad

Fixed Asstets

This query is : Resolved 
Profile Image

Profile Image

(Querist)
11 February 2009 Our Company have three mfg units.Can revaluation of F/A be done in one unit only?If Yes, what should be the accounting treatment when one asset tranferred(revalued) to the another unit.

The co is adopting SLM method.

for example: GB 100000, Accumulated dep 19000 NB 81000
Revalued Rs. 120000 and transferred to another unit
Profile Image

Vikram

Profile Image

Vikram (Expert)
19 February 2009 Dear whether there is 1 plant or 100 plant but your company is the same hence internal transfer will not have any effect on the books of account however from internal control point of view it has because cost centre wise profitability may effect receiving or transferring plant.

Hence from company's point of view entry will be
Assets a/c/ dr
To reveluation res a/c

If in this case if u trying to say that there is a holding and subsidiary relationship than the above entry shall be passed by transferring comapny in addition to:
Receiving co. a/c Dr.
To Assets account
And receiving co. will make following entry:

Asset a/c Dr.
To Trasnferring a/c
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details