Companies - Land & Buildings revaluation

Depreciation is normally what nature in the General Ledger?

• Debit nature

• Credit nature

Accumulated Depreciation is normally what nature in the General Ledger?

• Debit nature

• Credit nature

Using only the letters REVALUATION - what 5 letter word is a large heavily built crow with mainly black plumage, feeding chiefly on carrion

(a)  

Buildings is normally what nature in the General Ledger?

• Debit nature

• Credit nature

Buildings revaluation Surplus is normally what nature in the General Ledger?

• Debit nature

• Credit nature

To record the current year depreciation on buildings you would

• Dr depreciation on buildings & Cr Accumulated Depreciation on buildings

• Dr depreciation on buildings & Cr Buildings

• Dr accumulated depreciation on buildings & Cr buildings

• Dr accumulated depreciation in buildings & Cr Income Summary

Using only the letters REVALUATION - name a colour of the rainbow using just 6 letters

(a)  

Land Revaluation Surplus is normally what nature in the General Ledger?

• Debit nature

• Credit nature

To close off accumulated depreciation on buildings you would

• Dr depreciation on buildings & Cr Accumulated Depreciation on buildings

• Dr depreciation on buildings & Cr Buildings

• Dr accumulated depreciation on buildings & Cr buildings

• Dr accumulated depreciation in buildings & Cr Income Summary

To record the increase in valuation of buildings you would

• Dr depreciation on buildings & Cr Accumulated Depreciation on buildings

• Dr depreciation on buildings & Cr Buildings

• Dr buildings & Cr buildings revaluation surplus

• Dr buildings revaluation surplus & Cr buildings