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Wilson Inc Wishes to Use the Revaluation Model for This

Question 68

Multiple Choice

Wilson Inc wishes to use the revaluation model for this property: Wilson Inc wishes to use the revaluation model for this property: The fair value for the property is $20,000. What amount would be booked to the accumulated depreciation account if Wilson chooses to use the proportional method to record the revaluation? A) $0 B) $30,000 debit C) $30,000 credit D) $60,000 debit The fair value for the property is $20,000. What amount would be booked to the "accumulated depreciation" account if Wilson chooses to use the proportional method to record the revaluation?


A) $0
B) $30,000 debit
C) $30,000 credit
D) $60,000 debit

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