Turner Enterprises sold a machine. The original cost was $180,000 and accumulated depreciation was $140,000. The machine was sold for $52,000. What is the gain or loss on the sale?
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- Jake parchased a $235,000 crane for his constraction business. He sold the crane for $175,000 after taking $115,000 of depreciation. Assume take is What is the amount of gain or loss on the sale?Slipper Company sold a productive asset, a machine, for cash. It originally cost Slipper $20,000. The accumulated depreciation at the date of disposal was $15,000. A gain on the disposal of $2,000 was reported. What was the asset's selling price?What was the gain or loss on the sale of the machinery?
- What is the amount and nature of the gain/loss from the sale?Granite Stone Creamery sold ice cream equipment for $16,000. Granite Stone originally purchased the equipment for $90,000, and depreciation through the date of sale totaled $71,000. What was the gain or loss on the sale of the equipment?I need help to get answer