The journal entry for the decrease in value of an asset is

None of the above

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Revaluation A/c Dr.

To Asset A/c

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Asset A/c Dr.

To Revaluation

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Revaluation A/c Dr.

To Bank A/c

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Solution

The correct option is B
Revaluation A/c Dr.

To Asset A/c

The journal entry for the decrease in value of the asset -

Revaluation A/c Dr.

To Asset A/c

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Similar questions

Any decrease in the value of the asset will be _______ to the revaluation account

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