What is the amount of the gain or loss on disposal of fixed assets? A fixed asset with a cost of dollar 42,200 and accumulateddepreciation of dollar 36,500 is sold for dollar 9,850. Whatis the amount of the gain or loss on disposal of the fixedasset?a. dollar 4,100 lossb. dollar 3,500 lossc. dollar 4,150 gaind. dollar 2,000 gain

Calculation of Book Value of Fixed AssetBook Value of Fixed Asset = Cost of Fixed Asset- Accumulated…

Answered: A fixed asset with a cost of dollar…

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 7.3.4MBA

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A fixed asset with a cost of $30,000 and accumulated depreciation of $28,000 is sold for $3,500. What is the amount of the gain or loss on disposal of the fixed asset? a. $2,000 loss b. $1,500 gain c. $3,500 gain d. $2,000 gain

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A fixed asset with a cost of dollar 42,200 and accumulated depreciation of dollar 36,500 is sold for dollar 9,850. What is the amount of the gain or loss on disposal of the fixed asset? a. dollar 4,100 loss b. dollar 3,500 loss c. dollar 4,150 gain d. dollar 2,000 gain