Utilisation of revaluation reserve
This query is : Resolved
jai singh jamwal
(Querist)
26 November 2013
Assume i revalued my asset which resulted in creation of revaluation reserve by Rs100000
now i have acc dep Rs10000
dep on original amt of assets20000
and additionaldep due revaluation rs 12000
now how much is to be debited from revaluation reserve
26 November 2013
On sale of asset when there is loss , if any then that much part of loss = to credited to revaluation a/c while it was revalued earlier eg 12,000 in your eg given shall be adj and rest will be debited to profit and loss a/c.
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