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Accounting question

chickens · 2004-11-13 14:11:20

Hi, I really need some help for the a revaluation/depreciation question so hopefully ye can help. Say a company revalues it's assets and all that, now 6 months later they sell an asset whick was bought for 400000 and has a book value of 36000 do you transfare the balance in the provision for depreciation to the revaluation…

13-11-2004 2:11pm

#1

chickens

Closed Accounts Posts: 165 ✭✭

Join Date: September 2004

Posts: 146

Hi, I really need some help for the a revaluation/depreciation question so hopefully ye can help.

Say a company revalues it's assets and all that, now 6 months later they sell an asset whick was bought for 400000 and has a book value of 36000 do you transfare the balance in the provision for depreciation to the revaluation reserve and the 4000 from the asset to the disposal or does the fact that you revalued mess it up?

Any help would be great, ta.

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Comments

#2 13-11-2004 6:09pm

Tenderised Meat

Closed Accounts Posts: 53 ✭✭

Join Date: October 2004

Posts: 49

Argh jesus I hated revaluation/depreciation so much. They were by far my most feared questions in the entire exam, no matter how many times I did them I could never do the next one without looking over previous examples!

To answer your question, I dont have a clue. Try looking over previous questions

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