Delta Builders sold equipment with an original cost of $180,000. The accumulated depreciation at the time of sale was $130,000, and the equipment was sold for $65,000. What is the gain or loss on the sale?
Delta Builders sold equipment with an original cost of $180,000. The accumulated depreciation at the time of sale was $130,000, and the equipment was sold for $65,000. What is the gain or loss on the sale?
Chapter14: Property Transactions: Capital Gains And Losses, § 1231, And Recapture Provisions
Section: Chapter Questions
Problem 32CE
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Can you please answer the general accounting question?
Transcribed Image Text:Delta Builders sold equipment with an original cost of
$180,000. The accumulated depreciation at the time of sale
was $130,000, and the equipment was sold for $65,000.
What is the gain or loss on the sale?
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