Revised as 10 doubt

Please help

Land & Building valued by valuer at 3 crores as on 31/3/17. As per books, cost of land is 39,97,220 & WDV of Building as on 31/3/16 is 8660385 (gross 1,15,47,705 - acc dep 2887320). Please suggest the treatment as on Mar 2017 in the light of revised AS 10. 

Thanks in advance

Replies (1)

here company has to consider revised value for land and building separately out of 3Crores.

if we are taking example of 50% is for land and balance is for buildings.

Land: (if first time revaluation Profit on Uowards Revaluation is credited to Capital reserve a/c)

Land A/c               Dr.     1,10,02,780

      To Capital reserve                                1,10,02,780

Buildings:

Buildings A/c        Dr.        63,39,615

       To Profit and loss a/c                             28,87,320  (Amount of Depreciation considered upto now)

        To Capital Reserve A/c                        32,52,295

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 23 October 2026
Articled Trainee

J Y & CO

Hyderabad

CA Inter

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
16 October 2026
CA article trainee

Zerdi & Co. Chartered Accountants

Pune

CA Inter

View Details
Company
Featured ARTICLESHIP 31 October 2026
CA Articleship

apricus india

Navi Mumbai

CA Inter

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
19 October 2026
Accountants/Articles (Freshers/Experienced)

ADY & CO.

New Delhi

Graduate (Any)

View Details