To capitalize an expenditure is to:

a credit an expense account

b Debit an expense account.

C. Credit the owner's capital account

d.Debit an asset account.

======================

An asset's book value is $ 18,000 on December 31, Year 5. The asset has been depreciated at an annual rate of $ 3,000 on the straight - line method.Assuming the asset is sold on December 31, Year 5 for $ 15,000, the company should record:

a.Neither a gain nor a loss is recognized on this transaction

b.A loss on sale of $ 3,000,

C. A gain on sale of $ 12,000.

d.A loss on sale of $ 12,000.