For the decrease in the value of assets- we debit account and credit account-assetbankrevaluationpartners- capital

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Standard XII

Accountancy

Revaluation of Assets

For the decre...

Question

For the decrease in the value of assets, we debit account and credit account.

asset

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bank

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revaluation

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partners' capital

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Solution

The correct options are
A asset
C revaluation
For an decrease in the value of assets, we pass the entry:
Revaluation A/c Dr.
To Asset A/c

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For the decrease in the value of assets, we debit account and credit account.

The correct options are A asset C revaluationFor an decrease in the value of assets, we pass the entry: Revaluation A/c Dr. To Asset A/c

The correct options are
A asset
C revaluation
For an decrease in the value of assets, we pass the entry:
Revaluation A/c Dr.
To Asset A/c