Question
A company had a bulldozer destroyed by fire. The bulldozer originally cost $117,000. The accumulated depreciation on it was $56,000. The proceeds from the insurance
A company had a bulldozer destroyed by fire. The bulldozer originally cost $117,000. The accumulated depreciation on it was $56,000. The proceeds from the insurance company were $86,000. The company should recognize:
Multiple Choice
A gain of $61,000.
A gain of $86,000.
A gain of $25,000.
A loss of $25,000.
A loss of $61,000.
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Cost Accounting Foundations And Evolutions
Authors: Michael R. Kinney, Cecily A. Raiborn
7th Edition
0324560559, 978-0324560558
