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An imp Question from Internal Reconstruction
Accountancy
Can you please explain why they calculated Profit on revaluation this way? ( 1st pic) (Q in 2nd pic) I have also solved in a way it felt correct. Please tell me why my calculation is wrong. This is one of the most important sums from this easy chapter, from which If questions come I dont want to lose marks.
Answers (7)
Ruhi Khan
Prepare revaluation account
I am pretty sure you meant prepare freehold property account which I did (see in image below) and now I got to understand the hold of it. Thank you.
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