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

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

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 7.3.3C: Effect of depreciation on net income Einstein Construction Co. specializes in building replicas of...

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Question

What is the result of this disposal transaction on these general 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 $500
B. Gain of $500
C. Loss of $1,500
D. No gain or loss

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