When the going concern concept is no longer applicable, t...
When the going concern concept is no longer applicable, the fixed assets are recorded at their
Net book value
Realizable value
Gross value
Revalued amount
Correct answer is D
When an asset is sold that has previously been revalued, the revaluation within the carrying value is debited to the Revaluation Reserve. When assets are revalued, every Balance Sheet shall show for a specified period of years, the amount of increase/decrease made in respect of each class of assets.
The gross loss on manufacturing is always transferred to the? ...
Use the following information to answer the given question: \(\begin{array}{c|c} & N \\ \hl...
Use the following information to answer the given question \(\begin{array}{c|c} & N \\ \hli...
In a not-for-profit making organization, the Receipts and Payments Accounts is the equivalent of ...
Opening stock---------2,300 Purchases-------------11,874 Sales--------------------18,600 Closing ...
An increase in provision for doubtful debts would result in ...
Accumulated depreciation on the asset as at 31/12/81 was ...