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Exercise 6-15A (Algo) Distinguishing between maintenance cost and capital expenditures LO 6-7 Bill's...

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Accounting

Exercise 6-15A (Algo) Distinguishing between maintenance cost and capital expenditures LO 6-7
Bill's Wrecker Service has just completed a minor repair on a tow truck. The repair cost was $910, and the book value prior to the repair was $4,850. In addition, the company spent $6,500 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 $85,500 and related Accumulated Depreciation account at $43,000.
Required
After the work was completed, what book value should appear on the balance sheet for the tow truck and the building?
\table[[,Book Value],[Tow Truck,],[Building,]]
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