Question

A-l Wrecker Service has just completed a minor repair on a tow truck. The repair cost was $830, and the book value prior to the repair was $7,200. In addition, the company spent $6,000 to replace the roof on a building. The new roof extended the life of the building by five years. Prior to the roof replacement, the general ledger reflected the Building account at $85,000 and related Accumulated Depreciation account at $32,000.

Required
After the work was completed, what book value should appear on the balance sheet for the tow truck and the building?



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  • CreatedOctober 26, 2013
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