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Cost Purchase Date Useful Life Salvage Value Depreciation Method Date Sold Sales Price $48,250 Loss O $9,752 Gain O $9,500 Loss O $10,500 Loss Machine
Cost Purchase Date Useful Life Salvage Value Depreciation Method Date Sold Sales Price $48,250 Loss O $9,752 Gain O $9,500 Loss O $10,500 Loss Machine A O $6,250 Gain $82,000 April 1, 2006 6 years Determine the amount of gain or loss on Machine A. $4,000 Straight-Line July 1, 2011 $20,000 Machine B $60,000 January 1, 2009 5 years $2,000 Double-Declining Balance August 1, 2011 $12,000
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