Depreciation on Premises

When we do revaluation of Premises, revaluation reserve to be create. Shall the depreciation on Revalued premise debit to Profit n Loss account or adjust with Revaluation Reserve?
Replies (2)
Quick Summary
This discussion clarifies the accounting treatment for depreciation on revalued premises. When premises are revalued, a revaluation reserve is created. The consensus is that depreciation on the revalued premise should be debited to the Profit and Loss account. The amount held in the Revaluation Reserve can then be transferred to the General Reserve account.

It should be debited to profit and loss
Revaluation Reserve amount can be credited to General Reserve A/c

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