The initial cost of the equipment was $225,000 with an accumulated depreciation of $195,000. Depreciation has been taken up to the end of the year.

The initial cost of the equipment was $225,000 with an accumulated depreciation of $195,000. Depreciation has been taken up to the end of the year. The company found a company that is willing to buy the equipment for $30,000. What is the amount of the gain or loss on this transaction? A. Gain of $30,000 b. Loss of $30,000 c. No gain or loss d. Cannot be determined ANS: C DIF: Easy OBJ: 10-03 NAT: AACSB Analytic | AICPA FN-Measurement 49. On December 31, Reach It Batting Cages Company has decided to sell one of its batting cages. The initial cost of the equipment was $225,000 with an accumulated depreciation of $195,000. Depreciation has been taken up to the end of the year. The company found a company that is willing to buy the equipment for $10,000. What is the amount of the gain or loss on this transaction?

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The initial cost of the equipment was $225,000 with an accumulated depreciation of $195,000. Depreciation has been taken up to the end of the year.

The initial cost of the equipment was $225,000 with an accumulated depreciation of $195,000. Depreciation has been taken up to the end of the year. The company found a company that is willing to buy the equipment for $30,000. What is the amount of the gain or loss on this transaction? A. Gain of $30,000 b. Loss of $30,000 c. No gain or loss d. Cannot be determined ANS: C DIF: Easy OBJ: 10-03 NAT: AACSB Analytic | AICPA FN-Measurement 49. On December 31, Reach It Batting Cages Company has decided to sell one of its batting cages. The initial cost of the equipment was $225,000 with an accumulated depreciation of $195,000. Depreciation has been taken up to the end of the year. The company found a company that is willing to buy the equipment for $10,000. What is the amount of the gain or loss on this transaction?

Order the answer to view it

Place this order or similar order and get an amazing discount. USE Discount code “GET20” for 20% discount

 

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