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Question : An old computer completely written off was sold for Rs. 2,000 as scrap. Choose the correct Journal entry

Option 1: Computer account debited by Rs 2,000 and credited revaluation account Rs 2,000

Option 2: Revaluation account debited by Rs 2,000 and credited computer account Rs 2,000

Option 3: Debited bank account by Rs 2,000 and credited revaluation account by Rs 2,000

Option 4: debited revaluation account Rs 2,000 and credited bank account by Rs 2,000


Team Careers360 15th Jan, 2024
Answer (1)
Team Careers360 20th Jan, 2024

Correct Answer: Debited bank account by Rs 2,000 and credited revaluation account by Rs 2,000


Solution : Answer (C) Debited bank account by Rs 2000 and credited revaluation account by Rs 2000

Bank A/C..........Dr 2000
To Revaluation AIC 2000
​​​​​​​Hence, the correct option is 3.

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