The journal entry for an increase in the value of a fixed asset is

Partners' Capital A/c Dr.

To Revaluation A/c

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Revaluation A/c Dr.

To Partners' Capital A/c

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Fixed Asset A/c Dr.

To Revaluation A/c

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Revaluation A/c Dr.

To Fixed Assets

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C
Fixed Asset A/c Dr.

To Revaluation A/c

The journal entry for an increase in the value of a fixed asset is :

Fixed Asset A/c Dr.

To Revaluation A/c

Suggest Corrections

Similar questions

Why there is a need for the revaluation of assets and liabilities on the admission of a partner?

Profit/Loss on Revaluation of Assets & Liabilities on the retirement of a partner is shared by the partners in their:

Join BYJU'S Learning Program