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Expensed truck that should have been capitalized. Capitalized repainting point that should have been expensed. The bookkeeper expensed the engine overhaul on one of the

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Expensed truck that should have been capitalized. Capitalized repainting point that should have been expensed. The bookkeeper expensed the engine overhaul on one of the delivery trucks. The new engine cost $50,000 and is expected to be good for another 100,000 miles. You also discovered that the $18,000 cost of repainting the factory was capitalized as a building improvement What, if any, journal entries are necessary at December 31? A. DR: Truck 50,000; CR: Maintenance & repairs 50,000 8. DR. Maintenance & repairs 18,000 CR Building improvements 18,000 O C. A and B O D. No adjustment necessary

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