Use the Following Information for Questions

Use the following information for questions.
Simpson Company applies revaluation accounting to plant assets with a carrying value of $800,000, a useful life of 4 years, and no salvage value.Depreciation is calculated on the straight-line basis.At the end of year 1, independent appraisers determine that the asset has a fair value of $750,000.
-The financial statements for year one will include the following information

A) Accumulated depreciation $200,000.
B) Depreciation expense $50,000.
C) Plant assets $750,000.
D) Revaluation surplus $50,000.