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Ilene's Ice Cream Parlour just spent $ 1 6 , 0 0 0 redoing their patio area for outside service. The original patio was not
Ilene's Ice Cream Parlour just spent $ redoing their patio area for outside service. The original patio was not recognized as a separate component of the building and its original cost is not known. The building had been depreciated on a straightline basis assuming a year useful life. Construction costs in the area have doubled since the original building was completed years ago. Assuming the new patio will not be recorded as a component separate from the building, what should be recorded as the loss on disposal of old patio?
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