Question
On April 1, 2023, Unicorn Inc. sells machinery for $40,000. The machinery originally cost $155,000 and had an estimated 8-year life with an expected salvage
On April 1, 2023, Unicorn Inc. sells machinery for $40,000. The machinery originally cost $155,000 and had an estimated 8-year life with an expected salvage value of $15,000. The Accumulated Depreciation account had a balance of $95,500 on December 31, 2022. a. What is the gain or loss on the date of the sale? What is the journal entry to record this sale?
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Algorithm Audit Why What And How
Authors: Biagio Aragona
1st Edition
0367530929, 978-0367530921
