Question: Exercise 8 - 1 6 A ( Algo ) Distinguishing between revenue expenditures and capital expenditures LO 8 - 8 Bill s Wrecker Service has
Exercise A Algo Distinguishing between revenue expenditures and capital expenditures LO
Bills Wrecker Service has just completed a minor repair on a tow truck. The repair cost was $ and the book value prior to the repair was $ In addition, the company spent $ 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 $ and related Accumulated Depreciation account at $
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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