What is the result of this disposal transaction ?? Acopymachine cost $92,000 when new and has accumulateddepreciation of $80,000. Suppose Paper Solutions sold the machinefor $14,000. What is the result of this disposal transaction?A. No gain or lossB. Gain of $2,000C. Loss of $2,000D. Loss of $52,000

Provided Data:Original Cost of Machine = $92,000Accumulated Depreciation = $80,000Sale Price =…

Answered: A copy machine cost $92,000 when new…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 8PA: Referring to PA7 where Kenzie Company purchased a 3-D printer for $450,000, consider how the...

See similar textbooks

Similar questions

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
A copy machine cost $39,000 when new and has accumulated depreciation of $25,000. Suppose Print Center sold the machine for $14,000. What is the result of this disposal transaction? OA. Gain of $14,000 OB. Loss of $25,000 OC. Loss of $14,000 D. No gain or loss
What is the result of this disposal transaction?
A copy machine cost $33,000 when new and has accumulated depreciation of $30,000. Suppose ABC Printing discards this machine and receives nothing. What is the result of the disposal transaction? OA. No gain or loss OB. Loss of $3,000 OC. Loss of $33,000 O D. Gain of $3,000
What is the result of this disposal transaction?
A copy machine cost $78,000 when new and has accumulated depreciation of $72,000. Suppose Print and Photo Center sold the machine for $6,000. What is the result of this disposal transaction? A. No gain or loss B. Gain of $1,000 C. Loss of $1,000 D. Loss of $44,000
A copy machine cost $45,000 when new and has accumulated depreciation of $44,000. Suppose Print and Photo Center discards this machine and receives nothing. What is the result of the disposal transaction? Loss of $45,000 Gain of $1,000 Loss of $1,000 No gain or loss OO
A copy machine cost $95,000 when new and has accumulated depreciation of $83,000. Suppose Pinnacle Office Supplies sold the machine for $14,000. What is the result of this disposal transaction? A. No gain or loss B. Gain of $2,000 C. Loss of $1,000 D. Loss of $44,000
A printer cost $65,000 when new and has accumulated depreciation of $60,000. Suppose Pixel Works Studio sold the printer for $7,000. What is the result of this disposal transaction? A. No gain or loss B. Gain of $2,000 C. Loss of $2,000 D. Loss of $53,000
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
A copy machine cost $78,000 when new and has accumulated depreciation of $72,000. Suppose Print and Photo Center sold the machine for $6,000. What is the result of this disposal transaction? None
A copy machine costs $45,000 when new and has accumulated depreciation of $44,000. Suppose Print and Photo Center junk this machine and receives nothing. What is the result of the disposal transaction? No gain or loss Gain of $1,000 Loss of $1,000 Loss of $45,000

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:

Cengage Learning

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS

A copy machine cost $92,000 when new and has accumulated depreciation of $80,000. Suppose Paper Solutions sold the machine for $14,000. What is the result of this disposal transaction? A. No gain or loss B. Gain of $2,000 C. Loss of $2,000 D. Loss of $52,000