Patents written off treatment in balance sheet and revaluation account?
Dear Student,
Patents are Intangible Assets of a business and are amortised over their useful life;
When during valuation they are considered as valueless and are written off their balance sheet value would become Zero and would be shown as debit in revaluation A/c;There would be nothing shown under Patents in balance sheet;
Regards,
Patents are Intangible Assets of a business and are amortised over their useful life;
When during valuation they are considered as valueless and are written off their balance sheet value would become Zero and would be shown as debit in revaluation A/c;There would be nothing shown under Patents in balance sheet;
Regards,