Revaluation Accounting Entries

[ramesh.nalem]

Hi Team,

What are the accounting entries for Revaluation??

Are there any accounting entries for Translation, if yes??? Please explain in details.

[byswamy]

Hi

Revaluation Enries

when u get loss on revaluation asset(total cost-10000. loss -100)

Loss A/C 100
asset A/C 100

same if get profit(total cost-10000. profit -100)

asset a/c 100
profit a/c 100


In transilation we translate balances only...we can get translation adj amount in Trail balance transilation report.. i am not sure entry will rise or not...(upto my knowledge there is know entry)


Regards
swamy

[manpreet]

hi friends,

will anybody explain me how to take asset and liability account for
revaluation.
some people are saying we run revaluation only on asset and liability.
and some saying only on current asset and current liability.

plese suggest me i am new in this

regards
manpreet

[pushpaveniu]

[quote]hi friends,

will anybody explain me how to take asset and liability account for
revaluation.
some people are saying we run revaluation only on asset and liability.
and some saying only on current asset and current liability.

plese suggest me i am new in this

regards
manpreet

<i><div align="right">Originally posted by manpreet