+- Accountancy Forum (https://www.accountancy.com.pk/forum)
+-- Forum: The Profession (https://www.accountancy.com.pk/forum/forumdisplay.php?fid=4)
+--- Forum: Accounting and Audit (https://www.accountancy.com.pk/forum/forumdisplay.php?fid=7)
+--- Thread: T account (/showthread.php?tid=5772)
T account - Amar - 05-01-2009
Hi, I got a open book uni exam tomorrow, I have revised 95 percent and prepared 95 percent of my notes. However, I just realised one was missing while revising, I must have lost it.
when a revaluation of a asset is done, if a asset is devalued it is charged as a expense unless it has previously been revalued
if it is increased is put in the T account under revaluation surplus on the credit side- <b>which T account is debited for the double entry system to work?</b>
- KKashif - 05-03-2009
Asset account is debited and revaluation account is credited.