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What is the double entry for recording a revaluation gain?

Accounting Auditing Financial Reporting Economics
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Question added by Frank Mwansa , ACCOUNTING LECTURER , FREELANCER
Date Posted: 2016/04/25
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Mohammed Shahsad
by Mohammed Shahsad , Freelance Travel Consultant , Freelancing

in case of fixed assest

Fixed asset    Dr

to Gain on revaluation Cr

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