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,

  • 25
patents will be shown in the Dr. Side of the revaluation A/c and in the new balance no need to show the patent in the balance sheet of the firm(in case when patents became valueless) because we haven’t left any bal. of patents to show in the balance sheet!!
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