U LLluLLlL lJJ L-J'LJ'LUuJIJ J. each. And then those assets are all revaluated in 5252006 by the journal entries J2955, J295'? and J2959 and increased the 'Other income' account. When the asset value increased and companyr gain from the revaluation, it should not he reported on income statement; instead an equity account should be credited and called 'Revaluation Surplus'. There are some missing transaction of J 2944, J 2946, J 2948, J 2956 and J 2958, which have chance of related to improper asset revaluation fraud scheme. Total improper asset valuation amount in J2943, J2945, J2947, J2955, .1295? and J2959 is $275,003. Total amount that improperly recorded as income in J2955, J2957 and J2959 is $275,000