Business, 05.05.2020 05:00 shekinahdavis8760

Bill’s Wrecker Service has just completed a minor repair on a tow truck. The repair cost was $800, and the book value prior to the repair was $5,210. In addition, the company spent $9,500 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 $90,800 and related Accumulated Depreciation account at $37,700.

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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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Bill’s Wrecker Service has just completed a minor repair on a tow truck. The repair cost was $800, a...

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