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Wilson Inc Wishes to Use the Revaluation Model for This

Question 115

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 $40,000. Using straight-line depreciation and assuming that the property has a remaining depreciable life of 5 years, how much depreciation expense would be recorded in the year subsequent to the revaluation? A) 8,000 credit B) 8,000 debit C) 16,000 credit D) 16,000 debit 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 depreciation expense would be recorded in the year subsequent to the revaluation?


A) 8,000 credit
B) 8,000 debit
C) 16,000 credit
D) 16,000 debit

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