20 May 2013
SIR,A PLANT AND MACHINERY W.D.V AS ON 31.03.2013 RS.20.00 LACS RE VALUED AT 30.00 LACS PLEASE GUIDE ME HOW THE ENTRY OF RE VALUATION AS WELL AS DEPRECIATION WILL BE PASSED IN THE BOOKS?
20 May 2013
Difference between the revalued amount and book value need to be credited in to revaluation reserve a/c. depreciation is to be charged for revised estimated life of the asset.
CAclubindia
