Question
ABC Company purchased a tractor for $80,000 on 1/1/2019 . The salvage value is expected to be $20,000. The tractor is expected to be used
ABC Company purchased a tractor for $80,000 on 1/1/2019 . The salvage value is expected to be $20,000. The tractor is expected to be used for 8 years. On 12/31/2020, the firm sold the tractor for $50,000. How much was the gain or loss on disposal?
| Gain of $5,000 | ||
| Loss of $10,000 | ||
| Gain of $50,000 | ||
| Loss of $30,000 |
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Loss Control Auditing A Guide For Conducting Fire Safety And Security Audits
Authors: E. Scott Dunlap
1st Edition
1439828865, 978-1439828861
