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a. A machine costing $36,000 has accumulated depreciation of $26,000 at date of disposal. Assume the machine sold for $10,200. 1) What is the book

a. A machine costing $36,000 has accumulated depreciation of $26,000 at date of disposal. Assume the machine sold for $10,200.

1) What is the book value of the machine? ________

2) What is the amount of the gain or loss? ________

3) Is it a gain or loss on disposal of machine? __________

b. A machine costing $36,000 has accumulated depreciation of $26,000 at date of disposal. Assume that the machine was sold for $9,400 cash. The cost and accumulated depreciation are $36,000 and $26,000 respectively.

1) What is the book value of the machine? _________

2) What is the amount of the gain or loss? ________

3) Is it a gain or loss on disposal of machine? ________

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