Please give me correct answer the accounting question A 3D printer originally cost $60,000 and has accumulated depreciation of$58,500. Suppose Kingston Print works sold the printer for $2,000.What is the result of this disposal transaction?A. Loss of $500B. Gain of $500C. Loss of $1,500D. No gain or loss

Step 1: Define Gain or Loss on Disposal of Asset:The gain or loss on the disposal of an asset arises…

Answered: A 3D printer originally cost $60,000…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter7: Fixed Assets, Natural Resources, And Intangible Assets

Section: Chapter Questions

Problem 7.3.1C

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A 3D printer originally cost $60,000 and has accumulated depreciation of $58,500. Suppose Kingston Print works sold the printer for $2,000. What is the result of this disposal transaction? A. Loss of $500 B. Gain of $500 C. Loss of $1,500 D. No gain or loss