Match each partnership revaluation transaction on the left with its corresponding double-entry accounting rule on the right.
- An increase in the Provision for Doubtful Debts upon revaluationDebit Revaluation Account and Credit Provision for Doubtful Debts Account
- A reduction in Sundry Creditors liabilities upon revaluationCredit Revaluation Account and Debit Sundry Creditors Account
- An appreciation in the value of Plant and MachineryCredit Revaluation Account and Debit Plant and Machinery Account
- An unrecorded liability for accrued wages brought into the booksDebit Revaluation Account and Credit Accrued Wages Account
Cevap
1. Increase in Provision for Doubtful Debts → Debit Revaluation Account and Credit Provision for Doubtful Debts Account; 2. Reduction in Sundry Creditors → Credit Revaluation Account and Debit Sundry Creditors Account; 3. Appreciation in Plant and Machinery → Credit Revaluation Account and Debit Plant and Machinery Account; 4. Unrecorded Accrued Wages → Debit Revaluation Account and Credit Accrued Wages Account.
Each revaluation adjustment follows basic nominal account rules: gains (asset appreciation, liability reduction) are credited to the Revaluation Account, while losses (increased provisions, unrecorded liabilities) are debited to the Revaluation Account.
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Anahtar Kavram
Double-entry rules for posting asset and liability revaluation adjustments to the Revaluation Account.