Patent

Question $17(1$ point$)$

Blockware Corporation has selected to use the revaluation model for its assets. Recently it had its building appraised. The appraiser placed a $$5,000,000$ value on the building. Back in $2017$ this building was purchased for $$4,000,000.$ This increase in value over cost requires a:

$$ credit to the building account

credit to revaluation surplus

debit to accumulated depreciation

debit to revaluation surplu