alleryStart learning →PPE of Rs 5,00,000 is revalued to Rs 6,20,000, no prior surplus. What is charged to profit or loss?
ARs 1,20,000
BRs 0 (nil)
CRs 6,20,000
DRs 5,00,000
Answer & Solution
Correct answer: B. Rs 0 (nil)
The whole increase of 1,20,000 goes to other comprehensive income as surplus, so profit or loss is nil.
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