Question
On 1 July 2019, Sally sells office equipment for $22,000. The Equipment was originally purchased on 1 January 2016 for $60,000. The equipment had an
On 1 July 2019, Sally sells office equipment for $22,000. The Equipment was originally purchased on 1 January 2016 for $60,000. The equipment had an estimated 5-year life and an expected residual value of 10,000. The business uses a straight-line depreciation method. The gain/loss on disposal is:
A. $3000 gain
B. $2000 loss
C. $3000 loss
D. $2000 gain
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Essentials Of Accounting
Authors: Leslie Breitner, Robert Anthony
11th Edition
0132744376, 978-0132744379
