Mazaya Company has decided to sell one of its old machines on June 30, 2011 The machine was purchased for RO:120,000 on January 1, 20o07, and was depreciated on a straight-line basis for 10 years with no residual value f the machine was sold for R.O 33.000, what was the amount of the gain or loss recorded at thetime of the sale? Select one O a RO 69,00. b. RO 27.000. O CRO33,00 O d RO 81,000.
Mazaya Company has decided to sell one of its old machines on June 30, 2011 The machine was purchased for RO:120,000 on January 1, 20o07, and was depreciated on a straight-line basis for 10 years with no residual value f the machine was sold for R.O 33.000, what was the amount of the gain or loss recorded at thetime of the sale? Select one O a RO 69,00. b. RO 27.000. O CRO33,00 O d RO 81,000.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter7: Operating Assets
Section: Chapter Questions
Problem 11MCQ
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![Mazaya Company has decided to sell one of its old machines on June 30, 2011 The machine was purchased for RO:120,000
on January 1, 20o07, and was depreciated on a straight-line basis for 10 years with no residual value f the machine was sold
for R.O 33.000, what was the amount of the gain or loss recorded at thetime of the sale?
Select one
O a RO 69,00.
b. RO 27.000.
O CRO33,00
O d RO 81,000.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fde59a88e-bec1-4240-b8c6-d0c8fff561b4%2Fe7e1e481-0fe7-498c-bf45-b8ff2e485ef6%2Fgxvc7cj_processed.png&w=3840&q=75)
Transcribed Image Text:Mazaya Company has decided to sell one of its old machines on June 30, 2011 The machine was purchased for RO:120,000
on January 1, 20o07, and was depreciated on a straight-line basis for 10 years with no residual value f the machine was sold
for R.O 33.000, what was the amount of the gain or loss recorded at thetime of the sale?
Select one
O a RO 69,00.
b. RO 27.000.
O CRO33,00
O d RO 81,000.
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