Multiple Choice
Wilson Inc wishes to use the revaluation model for this property:
The fair value for the property is $40,000.Using straight-line depreciation and assuming that the property has a remaining depreciable life of 5 years,how much would be booked to accumulated depreciation in the year subsequent to the revaluation?
A) $8,000 credit.
B) $8,000 debit.
C) $16,000 credit.
D) $16,000 debit.
Correct Answer:
Verified
Correct Answer:
Verified
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