Dear Experts
I ahve a fixed asset LAND which needs to be revalued or valued reduced by x amount. The reduced amount is being used to create tow new asset of type land.
So my entry would be of type
Transaction Type
Acquisition old land (Looo11) --- Credit 1000 Amount
Acquisition LANDNEW01 ----- Debit 500 Amount
Acquisition LANDNEW02 --- Debit 500 Amount
is the entry right . If not what will be the correct entry.
Please bear in mind that the type LAND has not depreciation.
Thanks in advance
