Revaluation of Fixed Assets and how to record in T accounts?

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REVALUATION OF FIXED ASSETS AND HOW TO RECORD IN T ACCOUNTS?
Revaluation is when an assets value increases. This happens when an actions takes place that causes the assets value to be revalued to determine a new net book value. A couple of examples of assets that could be revalued are a vintage car that could be worth a lot more than expected, although it could have depreciated a lot in the past the asset could be worth money if it is a rare item and there is a market for collectors. Land is another asset, as land does not depreciate as the value of land increases with inflation and gdp. How much will the asset and revaluation reserve increase by? We take the new net book value away from the old net book value. This amount is then added to the fixed asset account in the balance sheet and it also goes into the revaluation reserve.

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