EP HORNGREN'S FINAN.+MGRL.ACCT.-ACCESS
EP HORNGREN'S FINAN.+MGRL.ACCT.-ACCESS
7th Edition
ISBN: 9780136516309
Author: MILLER-NOBLES
Publisher: PEARSON CO
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Chapter 9, Problem 5QC

A copy machine costs $45,000 when new and has accumulated depreciation of $44,000. Suppose Prim and Photo Center junks this machine and receives nothing. What is the result of the disposal transaction?

a. No gain or loss

b. Gain of $1,000

c. Loss of $1,000

d. Loss of $45,000

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