Question
A fixed asset with a cost of $25,785 and accumulated depreciation of $23,206.50 is sold for $4,383.45. What is the amount of the gain or
A fixed asset with a cost of $25,785 and accumulated depreciation of $23,206.50 is sold for $4,383.45. What is the amount of the gain or loss on disposal of the fixed asset?
a.$2,578.50 loss
b.$1,804.95 loss
c.$1,804.95 gain
d.$2,578.50 gain
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Survey of Accounting
Authors: Edmonds, old, Mcnair, Tsay
2nd edition
9780077392659, 978-0-07-73417, 77392655, 0-07-734177-5, 73379557, 978-0073379555
