Transfer of excess depreciation to Retained earnings

Say there’s an asset of 31 Dec,X5 $10000 having useful life of 5 years . On 31 Dec,X7 it was revalued to 12000 with remaining life of 3 years. And Co. has policy of transferring excess dep. to Ret. Earnings.

For year ended 31 Dec, X8 , the depreciation charged will be $4000 and tranfer to ret. earn. from reval. surplus will be $2000.

So, the journal entries will be :

P/L Dr. 4000
To Dep. 4000

Reval. Surplus Dr. 2000
To Ret. Earnings. 2000

Am I right ?