Problem: Module 2 Textbook Problem 17 Learning Objective: 2-14 Show how continuing expenditures for operational assets affect financial statements 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 $5,280. In addition, the company spent $9,000 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 $93,100 and related Accumulated Depreciation account at $38,300. Required After the work was completed, what book value should appear on the balance sheet for the tow truck and the building? Tow Truck Building Book Value

Problem: Module 2 Textbook Problem 17 Learning Objective: 2-14 Show how continuing expenditures for operational assets affect financial statements 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 $5,280. In addition, the company spent $9,000 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 $93,100 and related Accumulated Depreciation account at $38,300. Required After the work was completed, what book value should appear on the balance sheet for the tow truck and the bulding