Sage Hill Inc. recorded a loss of $8,300 when it sold a van that originally cost $90,000 for $13,400. Accumulated depreciation on the van must have been: a) $21,700. b) $68,300. c) $84,900. d) $81,700.

SWFT Comprehensive Volume 2019
42nd Edition
ISBN:9780357233306
Author:Maloney
Publisher:Maloney
Chapter14: Property Transactions: Capital Gains And Losses, § 1231, And Recapture Provisions
Section: Chapter Questions
Problem 32CE
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Sage Hill Inc. recorded a loss of $8,300 when it sold a
van that originally cost $90,000 for $13,400.
Accumulated depreciation on the van must have
been:
a) $21,700.
b) $68,300.
c) $84,900.
d) $81,700.
Transcribed Image Text:Sage Hill Inc. recorded a loss of $8,300 when it sold a van that originally cost $90,000 for $13,400. Accumulated depreciation on the van must have been: a) $21,700. b) $68,300. c) $84,900. d) $81,700.
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