On December 31, Strike Company sold one of its batting cages for $219,597. The equipment had an original cost of $258,350 and has accumulated depreciation of $38,753. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction

Gain/loss= 0

Explanation:

Giving the following information:

On December 31, Strike Company sold one of its batting cages for $219,597. The equipment had an original cost of $258,350 and has accumulated depreciation of $38,753.

First, we need to determine the book value:

Book value= original cost - accumulated depreciation

Book value= 258,350 - 38,753= 219,597

The gain or loss from selling an asset depends on selling it for a higher or lower value than the book value.

Gail/loss= 219,597 - 219,597

Gain/loss= 0

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