Wilson Inc Wishes to Use the Revaluation Model for This

question 81

Multiple Choice

Wilson Inc wishes to use the revaluation model for this property: The fair value for the property is $140,000. What amount would be booked to the "accumulated depreciation" account if Wilson chooses to use the elimination method to record the revaluation?

• A)$40,000 debit
• B)$40,000 credit
• C)$60,000 debit
• D)$140,000 credit

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