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Based on the following information compute the gain or loss on the transaction: Asset cost $ 20,000 Accum Deprec through Dec 31,2013 $ 10,000 10
Based on the following information compute the gain or loss on the transaction: Asset cost $ 20,000 Accum Deprec through Dec 31,2013 $ 10,000 10 year life- straight line depreciation Date of sale- June 30, 2014 Residual value $ 1,000 Sale price $ 15,000
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