8.8-*PLEASE ANSWER ALL 5 QUESTIONS*

5 multiple choice questions.

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A substantial amount spent to improve the quality or extend the life of a long-term asset is called a revenue expenditure. True or False Expenditures that extend the useful life of a plant asset increase the accumulated depreciation on the asset. True or False Anton Company paid cash to extend the life of one of its assets. Which of the following choices accurately reflects how this event would affect the financial statements? anuary 1, Year 3, Marino's accounting records contained the following balances: ruck $55,000 ccumulated Depreciation $27,000 ne engine replacement on January 1, Year 3? Multiple Choice Truck $72,000, Accumulated Depreciation $27,000 Truck $55,000, Accumulated Depreciation $17,000 Truck $72,000, Accumulated Depreciation $44,000 Truck $55,000, Accumulated Depreciation $44,000 Multiple Choice Book value of machine decreases Retained earnings decreases Book value of machine increases Retained earnings increases