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: 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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