depreciation

6) date placed in service: cost: useful life: sales price date sold: 1/1/2022 $1,200,000 10 yrs $100,000 12/31/2030 a) Calculate any gain or loss when the fixed asset is sold. 6 7 8 9 0 1 2 13 14 45 46 47 b) What is the balance in the accumulated depreciation account on 12/31/2028? c) Assume the fixed asset was sold for $5,000 on 12/31/2036, calculate the gain or loss on the sale. 16 17 18 5) CO date placed in service: cost: useful life: sales price date sold: 4/1/2022 $500,000 10 yrs $10,000 12/31/2047 19 20 21 22 23 24 25 26 27 28 29 a) What is the depreciation expense for yr 1 using the straight-line method? $ 50,000.00 b) What is the balance in the accumulated depreciation account on 12/31/2023? c) Calculate any gain or loss when the fixed asset is sold