Give correct result for this question A photocopier cost $95,000 when new and hasan accumulated depreciation of $90,000. If thebusiness discards this plant asset, the result isa. a loss of $5,000.b. a loss of $11,250.c. a gain of $5,000.d. a gain of $11,250.

Step 1: Define Asset DisposalAsset disposal involves capital gains, and capital gains are taxable in…

Answered: A photocopier cost $95,000 when new and…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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
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A photocopier cost $95,000 when new and has an accumulated depreciation of $90,000. If the business discards this plant asset, the result is a. a loss of $5,000. b. a loss of $11,250. c. a gain of $5,000. d. a gain of $11,250.