Question
A company purchased a truck for on January 1, 2015. Cost $99,000 Residual value 3,000 Useful life 8 years Depreciation method: straight-line Partial-year depreciation is
A company purchased a truck for on January 1, 2015.
Cost $99,000 Residual value 3,000 Useful life 8 years Depreciation method: straight-line
Partial-year depreciation is calculated based on the number of months the asset is in service. The truck was sold on March 31, 2020 for $31,200. How much was the gain or loss on the sale of the truck.
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Governmental Accounting
Authors: Steven M. Bragg
2022nd Edition
1642210781, 978-1642210781
