Question
URGENT!! Claire owns and operates a veterianary surgery. During the year ended 30 june 2020 she inaccured the following expenditure. 10 August 2019 re-plumbing of
URGENT!!
Claire owns and operates a veterianary surgery. During the year ended 30 june 2020 she inaccured the following expenditure. 10 August 2019 re-plumbing of surgery due to faulty pipes $4700
16 October 2019 replace linoleum floor in surgery due to water damage from burst pipe $1800
2 dec 2019 painting worn exterior of surgery $5600
1 march 2019 sealing surgery car park which was previously dirt $15400
Explain the treatment of repair versus capital improvement using the above facts. Calculate the total deduction available to claire for the year ended 30 june 2020 are ( to the nearest dollar):
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Financial Accounting
Authors: Walter B. Meigs, Robert F. Meigs, Mark Bettner, Ray Whittington
9th Edition
0070434360, 978-0070434363
