What is the result of this disposal transaction? A copy machine cost $45,000 when new and hasaccumulated depreciation of $44,000. Suppose Printand Photo Center sold the machine for $1,000. Whatis the result of this disposal transaction?A. Loss of $44,000B. Gain of $1,000C. Loss of $1,000D. No gain or loss

Step 1: Introduction to the Asset DisposalAsset disposal is an important term that helps to dispose…

Answered: A copy machine cost $45,000 when new…

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 $45,000 when new and has accumulated depreciation of $44,000. Suppose Print and Photo Center sold the machine for $1,000. What is the result of this disposal transaction? A. Loss of $44,000 B. Gain of $1,000 C. Loss of $1,000 D. No gain or loss