Chapter 7, Problem 9E

choose best answer general accounting

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Please solve this question general Accounting

What is the gross income

Financial accounting

On August 1, 2022, Fletcher Corporation sells machinery for $180,000. The machinery originally cost $500,000, had an estimated 5-year life, and an expected salvage value of $50,000. The Accumulated Depreciation account had a balance of $325,000 on January 1, 2022, using the straight-line method. The gain or loss on disposal is__.

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How much is the gross profit margin?

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