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Please discuss about GDB here............
MGT401 GDB # 2 Solution:
entries will be

debit : asset value by 30000
credit : revaluation surplus by :30000
every year we can charge depreciation 150000/20=7500
if we compare it with depreciation on previous value of 12000 then
120000/20=6000
the difference can be reduced from surplus account and realized as retained earning.
Debit: revaluation surplus: 1500
credit retained earning: 1500.
please comment your view on this solution thnx
yes tight but pehle entry ma
revaluation surplus ki jaga pe revaluation reserve likhna hoga.
ur comments....?

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