A company sells a plant asset that originally cost $300000 for $100000 on December 31, 2025. The accumulated depreciation account had a balance of $150000 after the current year's depreciation of $25000 had been recorded. The company should recognize a O $100000 loss on disposal. O $30000 gain on disposal. O $100000 gain on disposal. O $50000 loss on disposal.

A company sells a plant asset that originally cost $300000 for $100000 on December 31, 2025. The accumulated depreciation account had a balance of $150000 after the current year's depreciation of $25000 had been recorded. The company should recognize a O $100000 loss on disposal. O $30000 gain on disposal. O $100000 gain on disposal. O $50000 loss on disposal.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A company sells a plant asset that originally cost $300000 for $100000 on December 31, 2025. The accumulated depreciation
account had a balance of $150000 after the current year's depreciation of $25000 had been recorded. The company should recognize
a
O $100000 loss on disposal.
O $30000 gain on disposal.
O $100000 gain on disposal.
O $50000 loss on disposal.

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