OMTEX CLASSES: How is profit on Revaluation of Fixed Assets accounted?

How is profit on Revaluation of Fixed Assets accounted?

Profit on Revaluation of Fixed Assets
A company may revalue fixed assets for various purposes. Any profit on revaluation should be accounted as follows :
Assets A/c  Dr.
To Capital Reserve A/c
It should be added to fixed assets in the schedule and added to Capital Reserve in a schedule of 'Reserves and Surplus'.

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MATHS PART ONE SSC 10TH STANDARD VIDEO MAHARASHTRA ENGLISH MEDIUM

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CHAPTERS COVERED
1. LINEAR EQUATIONS IN TWO VARIABLES
2. QUADRATIC EQUATIONS
3. ARITHMETIC PROGRESSION
4. FINANCIAL PLANNING
5. PROBABILITY
6. STATISTICS

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VIDEO LECTURES OF (MATHS I) SSC NEW SYLLABUS.



Linear Equations in Two Variables



Quadratic Equation



Arithmetic Progression



Financial Planning



Probability



Statistics