Valued Assets Inc., a publicly listed company, has a manufacturing plant with an initial cost of $100,000. At December 31, 2014, the date of revaluation, accumulated depreciation amounted to $55,000. The fair value of the plant, by comparing it with transactions involving similar assets, is assessed to be $65,000. Prepare the journal entries to revalue the plant under the revaluation model using
(a) The asset adjustment method and
(b) The proportionate method.