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

Question

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

Quizplus · Accepted Answer

The Answer of 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

Wilson Inc Wishes to Use the Revaluation Model for This