Alarico Printing owned a piece of equipment that cost $16,200 and on which it had recorded $9,000
Question:
Alarico Printing owned a piece of equipment that cost $16,200 and on which it had recorded $9,000 of accumulated depreciation. The company disposed of the equipment on January 2, the first day of business of the current year.
1. Calculate the carrying value of the equipment.
2. Calculate the gain or loss on the disposal under each of the following assumptions:
a. The equipment was discarded as having no value.
b. The equipment was sold for $3,000 cash.
c. The equipment was sold for $8,000 cash.
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1 Carrying Value EquipmentAccumulated Depreciation x Equipment 16200 9000 7200 2 ...View the full answer
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