Utilisation of revaluation reserve

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jai singh jamwal (Querist)
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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

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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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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