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What is Journal Entries of revaluation Assets and depreciation cost and revaluation on Fixed Assets. ?

Dear Friends

Problem: Journal Entries of  Depreciation  after of  revaluation on Fixed Assets.

An Examples is given below:

Books Value as on 01/01/2010  usd 1,00,000/=

Useful Life 10 Years

Accumulated Depreciation usd   as on 31.12.2011 usd 20,000/=     

Now The assets revalue as on 01/01/2012    usd 90,000/=

What is Journal Entries as follows? i) revaluation assets and ii) Depreciation of cost and  Revaluation as on 31/01/2012 ?

So Net Book Value  or Asset at cost usd 80,000/=( 1,00,000 – 20,000)   

Incremental Value/ or Revalue  or Assets on Revaluation          usd 10,000/=( 90,000-80,000)      

Thanks and Regards

Pijirul Khan

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