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Revaluation loss

Accountancy

A machine is revalued downward and no Balance in revaluation surplus then it is charged to p&l by which name ??

Atharv Sankliya

CA Final

★ 3K+

10-Oct-22 23:36

385

Answers (2)

Revaluation entries are once recorded in revaluation a/c then directly in balance below concerned asset , not recorded in P&L a/c as far as I know

Jahnavi Jaijapuram

CA Foundation

★ 6K+

11-Oct-22 00:43

The revaluation profit/ loss is transferred to theÂ capital accountsÂ of all partners.

Mohammad Badurul

CA Final

★ 10K+

11-Oct-22 10:01