ABC Manufacturing's loading equipment with an original cost of $75,000 and accumulated depreciation of $65,000 is sold for $15,000. What is the amount of the gain or loss on disposal of the loading equipment? a. $5,000 loss c. $5,000 gain b. $10,000 gain d. $15,000 gain
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- A fixed asset with a cost of $34,571 and accumulated depreciation of $31,113.90 is sold for $5,877.07. What is the amount of the gain or loss on disposal of the fixed asset? Oa. $3,457.10 loss Ob. $3,457.10 gain Oc. $2,419.97 gain Od. $2,419.97 lossA fixed asset with a cost of $27,355 and accumulated depreciation of $24,619.50 is sold for $4,650.35. What is the amount of the gain or loss on disposal of the fixed asset? a.$2,735.50 loss b.$2,735.50 gain c.$1,914.85 loss d.$1,914.85 gainA fixed asset with a cost of $28,567 and accumulated depreciation of $25,710.30 is sold for $4,856.39. What is the amount of the gain or loss on disposal of the fixed asset? a.$2,856.70 gain b.$2,856.70 loss c.$1,999.69 loss d.$1,999.69 gain
- A fixed asset with a cost of $32,167.00 and accumulated depreciation of $28,950.30 is sold for $5,468.39. What is the amount of the gain or loss on disposal of the fixed asset? Select the correct answer. A. $2,251.69 loss B. $2,251.69 gain C. $3,216.70 gain D. $3,216.70 lossA fixed asset with a cost of $24,000 and accumulated depreciation of $21,600 is sold for $4,080. What is the amount of the gain or loss on the sale of the fixed asset? a. $1,680 loss b. $1,680 gain c. $2,400 loss Od. $2,400 gainAn asset which costs $25,000 and has accumulated depreciation of $6,000 is sold for $11,000. What amount of gain or loss will be recognized when the asset is sold? a. A gain of $14,000 b. A loss of $14,000 c. A gain of $8,000 d. A loss of $8,000
- A company sold a machine that originally cost $250,000 for $120,000 when accumulated depreciation on the machine was $100,000. The gain or loss recorded on the sale of this machine is:A fixed asset with a cost of $33,769.00 and accumulated depreciation of $30,392.10 is sold for $5,740.73. What is the amount of the gain or loss on disposal of the fixed asset? Select the correct answer. $2,363.83 gain $2,363.83 loss $3,376.90 loss $3,376.90 gainA fixed asset with a cost of $26,000 and accumulated depreciation of $23,400 is sold for $4,420. What is the amount of the gain or loss on the sale of the fixed asset? Oa. $2,600 loss Ob. $2,600 gain Oc. $1.820 loss Od. $1,820 gain Previous Next 7:04 PM 12/11/2020 18 a
- Tipton Manufacturing has a machine that cost $145,000 when new and has accumulated depreciation of $136,000, which it sold for $1,000. The amount of gain or loss from this sale is: O A. a gain of $8,000 B. a loss of $8,000 O C. a gain of $9,000 D. a loss of $9,000I want to answer this questionJames Company sells a plant asset that originally cost $180,000 for $60,000 on December 31, 20x1. The accumulated depreciation account had a balance of $72,000. What should the company recognize? a. $ 120,000 loss on disposal. b. $ 48,000 loss on disposal. c. $ 48,000 gain on disposal. d. $ 30,000 loss on disposal.