A COMPANY SOLD A MACHINE THAT ORIGINALLY COST $50,000 FOR $20,000 WHEN ACCUMULATED DEPRECIATION ON THE MACHINE WAS $35,000. WHAT IS THE AMOUNT OF GAIN OR LOSS RECORDED ON THE SALE OF THIS MACHINE?
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- What is the result of this disposal transaction?Slipper Company sold a productive asset, a machine, for cash. It originally cost Slipper $20,000. The accumulated depreciation at the date of disposal was $15,000. A gain on the disposal of $2,000 was reported. What was the asset's selling price?What is the amount of gain or loss recorded on the sale of this equipment?? Accounting
- What is the amount of gain or loss recorded on the sale of this machine? General accountingI need this question accounting questionJake parchased a $235,000 crane for his constraction business. He sold the crane for $175,000 after taking $115,000 of depreciation. Assume take is What is the amount of gain or loss on the sale?
- A company sold a machine that originally cost $250,000 for $120,000 when accumulated depreciation on the machine was $100,000. The gain or loss recorded on the sale of this machine is:Gain or loss?Tipton Manufacturing has a machine that cost $145,000 when new and has accumulated depreciation of $136,000, which it sold for $1,000. The amount of gain or loss from this sale is: O A. a gain of $8,000 B. a loss of $8,000 O C. a gain of $9,000 D. a loss of $9,000