Question
MC Qu. 117 An assets book value... An asset's book value is $18,000 on December 31, Year 5. The asset has been depreciated at an
MC Qu. 117 An assets book value...
An asset's book value is $18,000 on December 31, Year 5. The asset has been depreciated at an annual rate of $3,000 on the straight-line method. Assuming the asset is sold on December 31, Year 5 for $15,000, the company should record:
Multiple Choice
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A gain on sale of $3,000.
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A loss on sale of $3,000.
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Neither a gain nor a loss is recognized on this transaction.
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A gain on sale of $12,000.
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A loss on sale of $12,000.
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Cost Benefit Analysis Concepts And Practice
Authors: Anthony E. Boardman, David H. Greenberg, Aidan R. Vining, David L. Weimer
3rd Edition
0131435833, 978-0131435834
