Freehold premises are shown in the Balance Sheet of a company as follows: Cost $60000, Net Book
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Freehold premises are shown in the Balance Sheet of a company as follows: Cost $60000, Net Book Value $42 000. It has been decided to revalue the premises in the books of the company at $80 000.
Required
Prepare the journal entry for the revaluation of the premises in the company's books.
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here is the journal entry for the revaluation of the premises in the companys books Debit Revaluatio...View the full answer
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