Business, 06.12.2019 03:31 karleebowling316
Amachine was purchased at a cost of $78,000. the equipment had an estimated useful life of five years and a residual value of $3,000. assuming the equipment was sold at the end of year 4 for $8,000, determine the gain or loss on the sale of equipment. (assume the straight-line depreciation method.)
a. a loss of $18,000
b. a loss of $10,000
c. a gain of $10,000
d. a gain of $18,000
Answers: 2
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Amachine was purchased at a cost of $78,000. the equipment had an estimated useful life of five year...
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