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Cross Country Trucking Company recently replaced the oil filter on one of its cross country rigs. How should one account for this cost?

Cross Country Trucking Company recently replaced the oil filter on one of its cross country rigs. How should one account for this cost?

a. As a repair and maintenance expense.

b. As an increase in the cost of the truck.

c. As a reduction in accumulated depreciation associated with the truck.

d. As an intangible asset.

Depreciation Finance Financial Statements
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Question added by Mohamed Hakeem Meerashahib , Branch Manager , Sri Lanka State Trading (General) Corporation
Date Posted: 2016/02/13
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elibert singson
by elibert singson , Accountant , ALGARAWI TRADING EST

A. as a repair and maintenance expense

Sultan Alghamdi
by Sultan Alghamdi

The answer is A. As a repair and maintenance expense.

 

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