Question
Brown corp recently recognized a 4000 dollar loss on the sale of equipment that it had owned for 36 months. Brown paid 20000 dollars for
Brown corp recently recognized a 4000 dollar loss on the sale of equipment that it had owned for 36 months. Brown paid 20000 dollars for the equipment and had used straight line depreciation with a 4 year useful life and a 2000 dollar salvage value. How much did brown sell the equipment for
A. 2500
B. 500
C. 6500
D. Not enough information
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Corporate Financial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
12th edition
1305041399, 1285078586, 978-1-133-9524, 9781133952428, 978-1305041394, 9781285078588, 1-133-95241-0, 978-1133952411
