How do we record an unrecorded asset in Revaluation Account?

Revaluation Account Dr. and Unrecorded Asset Account Cr

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Unrecorded Asset Account Dr and Revaluation Account Cr.

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Solution

The correct option is B Unrecorded Asset Account Dr and Revaluation Account Cr.
We record an unrecorded asset in Revaluation Account as Unrecorded Asset Account Dr and Revaluation Account Cr.

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____________ is prepared in order to ascertain net gain or loss on revaluation of assets and liabilities and bringing unrecorded items into books

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