Interested to Buy Any Domain ? << Click Here >> for more details...
What is asset revaluation reserve and how is it treated in
the books of accounts
- 4 Answers
- 19376 Views
- Genpact, I also Faced
- E-Mail Answers
Answer Posted / h.r. sreepada bhagi
In case a company revalues its fixed assets and the value
turns out to be higher than the book value and the assets
are stated at the increased value in the books of accounts,
the amount by which the assets value is stated higher than
the book value, is treated as assets revaluation reserve.
This Asset Revaluation Reserve will be shown on the
Liabilities side of 'Horizontal Balance Sheet' or under
Sources of Funds of 'Vertical Balance Sheet'.
The increase in the value of assets due to revaluation will
not have any effect on the P&L A/c. necessary depreciation
calculation & adjustment needs to be done to carry forward
the assets at the new value.
| Is This Answer Correct ? | 19 Yes | 2 No |
Post New Answer View All Answers
What are the 4 phases accounting?
WHEN WILL SBI DECLARE THE RESULTS OF INTERVIEWS OF CLERICAL CADRE HELD IN APRIL-MAY 2010?
India me ,suppose that hmare pass 190000 Rs hai,to kitna tax lgega,or kis heshab se lgega,
What is an interest rate swap
Accounting transactions are recorded in accordance with thier legal form or substance. Briefly explain the legal form and substance of the accounting transactions and give one relevant example.
In a housing society accounting if a defaulter having dues consisting of principal amount and simple interest, pays a part amount whether the received amount should be adjusted first against the interest dues and accordingly reduce the balance principal dues or adjusted only against the principal amount, allowing outstanding simple interest to contineously increase/
What are the 4 principles of gaap?
What is the meaning of scrap value in accounting?
Plant and machinery destroyed for 50000
I m entering much more than 500-700 sales vouchers per month. But I m getting a problem while entering sale voucher is that If I have entered a sale voucher in the middle of a date then the voucher no is being changed. So how can enter a sale voucher in the middle of a date so that i can adjust the voucher nos from changing.
Explain an example of a tough decision you had to make quickly?
WHAT ELEMENTS OF YOUR JOB JNTEREST YOU THE MOST AND LEAST?
Do you know what is icai?
Tell me do you think there is any difference between inactive and dormant accounts?
What entry to be passed for Duty draw back as receivable
