My company made the following aentriess for revaluation of fixxed assets
Fissed assets Dr
Revaluation AC cr
At the end of the year entries made for dep. are as follows:
Depreciation Account Dr
Fixed assets
(With full value of the assets)
Revauation reserve accounts dr
Depreciation accounts
Depreciation for revalued amount
Depreciation account Dr
Profit and loss account
Revalued depriciation charged to Profit and loss account
Any one can help me whether the transaction are correct or what will be the correct entries. please suggest me with example
Thanks

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