A logistics company sold its fleet of delivery vehicles for $92,800. The vehicles originally cost $2,310,000 and had Accumulated Depreciation of $2,105,000 recorded through the date of disposal. What gain or loss did the logistics company record when it sold the fleet of delivery vehicles?
A logistics company sold its fleet of delivery vehicles for $92,800. The vehicles originally cost $2,310,000 and had Accumulated Depreciation of $2,105,000 recorded through the date of disposal. What gain or loss did the logistics company record when it sold the fleet of delivery vehicles?
Chapter2: Income Tax Concepts
Section: Chapter Questions
Problem 59P
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Can you please answer the general accounting question?
Transcribed Image Text:A logistics company sold its fleet of delivery vehicles for $92,800. The vehicles
originally cost $2,310,000 and had Accumulated Depreciation of $2,105,000
recorded through the date of disposal.
What gain or loss did the logistics company record when it sold the fleet of
delivery vehicles?
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