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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- 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 $9,000I need help to get answerA 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