Question
company received a fixed asset as a donation and the market value of this fixed asset was$ 10,000. The depreciation rate of this asset is
company received a fixed asset as a donation and the market value of this fixed asset was$ 10,000. The depreciation rate of this asset is 20%pa. Asset was immediately put into use. The company sold this car after 2 years for the price of $ 5,000. What is the result of P/L section"profit(loss) on sale " in this comay inthe year of sale?
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In the year of sale the company will recognize a loss on the sale of the donated fixed asset in the ...
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Financial Reporting Financial Statement Analysis And Valuation A Strategic Perspective
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
9th Edition
1337614689, 1337614688, 9781337668262, 978-1337614689
