Subject: general accounting question A fixed asset with a cost of $45,000 and accumulated depreciation of $41,000 is sold for $6,000.What is the amount of the gain or loss on the disposal of the fixed asset?a. $2,000 lossb. $3,000 gainc. $6,000 gaind. $2,000 gain

Step 1: Define Gain or Loss on Asset DisposalThe gain or loss on asset disposal is determined by…

Answered: A fixed asset with a cost of $45,000…

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...

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A fixed asset with a cost of $45,000 and accumulated depreciation of $41,000 is sold for $6,000. What is the amount of the gain or loss on the disposal of the fixed asset? a. $2,000 loss b. $3,000 gain c. $6,000 gain d. $2,000 gain