User Account

All Pages

What is the entry to record the revaluation

Assignment Help Financial Accounting
Reference no: EM132736298

Problem 1: The carrying amount of Ultra Co's property at the end of the year 2018 amounted to Tk 280,000. After two years the property was revalued and was deemed to have a fair value of Tk 185,000. The depreciation rate was 10% and the property was purchased at Tk 4,00,000. The balance on the revaluation surplus relating to the original gain of the property was Tk 10,000. What is the entry to record the revaluation?

Reference no: EM132736298

Questions Cloud

Why is operations management important : Why is operations management important in all types of organization? Also want to know the input transformation output process.
What good mobile cell phones technology : What good mobile cell phones technology has done for society and advantages
Calculate the depreciation expense : Assume the van was purchased on 1 July 2019 and that the accounting period ends on 30 June. Calculate the depreciation expense for the using each.
Discuss the benefits of virtualization software : Discuss the benefits of virtualization software, as described in the text. Do you agree/disagree with these benefits, or can you think of additional benefits
What is the entry to record the revaluation : The balance on the revaluation surplus relating to the original gain of the property was Tk 10,000. What is the entry to record the revaluation?
What is the initial state matrix : A new rapid transit system has just started operating. In the first month of operation, it is found that 25 percent of the commuters are using the system
Explain the input transformation output proess : Why is operations management important in all types of organization? Explain the input transformation output proess.
Jesus christ came to preach is the kingdom of god : Most commentators agree that the chief message Jesus Christ came to preach is the Kingdom of God.
Which cash used by operating activities would result : Cash used by operating activities would result from which of the following? The increase in assets other than cash. / The decrease assets other than cash

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd