A Building with an Original Cost of $400 000 and Accumulated

question 51

Multiple Choice

A building with an original cost of $400 000 and accumulated depreciation of $100 000 is revalued to $500 000.The first step will be to write back the accumulated depreciation.The correct entry will be:

• A) \[\begin{array} { | l | r | r | }
• \hline \text { Building } ( \mathrm { A } + ) & 100000 & \\
• \hline \text { Accumulated depreciation } ( \mathrm { CA } + ) & & 100000 \\
• \hline
• \end{array}\]
• B) \(\begin{array}{|l|r|r|}
• \hline \text { Accumulated depreciation (CA-) } & 100,000 & \\
• \hline \text { Revaluation surplus (OE+) } & & 100,000 \\
• \hline
• \end{array}\)
• C) \[\begin{array} { | l | r | r | }
• \hline \text { Accumulated depreciation (CA-) } & 100,000 & \\
• \hline \text { Depreciation expense (E-) } & & 100,000 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | l | r | r | }
• \hline \text { Accumulated depreciation (CA-) } & 100,000 & \\
• \hline \text { Building (A-) } & & 100,000 \\
• \hline
• \end{array}\]

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