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 $500B. Gain of $500C. Loss of $1,500D. No gain or loss

Calculation of Net Book Value at the Time of SaleNet Book Value = Original Cost - Accumulated…

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 copy machine cost $32,000 when new and has accumulated depreciation of $26,000. Suppose Copy Center sold the machine for $6,000. What is the result of this disposal transaction? OA. Loss of $6,000 OB. Loss of $26,000 OC. Gain of $6,000 OD. No gain or loss
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A copy machine costs $41,000 when new and has accumulated depreciation of $35,000. Suppose Hilton Copy Center discards this machine and receives nothing. What is the result of the disposal transaction? A. No gain or loss B. Gain of $6,000 C. Loss of $40,000 D. Loss of $6,000
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N1.
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What journal entry will Mason Builders record on these general accounting question?

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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