Question
On December 31, 2016, Hamilton Inc. sold a used industrial crane for $600,000 cash. The original cost of the crane was $5.0 million and its
On December 31, 2016, Hamilton Inc. sold a used industrial crane for $600,000 cash. The original cost of the crane was $5.0 million and its accumulated depreciation equaled $4.2 million on December 31, 2016. What is the gain or loss from the December 31, 2016 equipment sale?
(4pts)
| $600,000 gain. | |
| $600,000 loss. | |
| $200,000 loss. | |
| $200,000 gain. |
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Financial Analysis And Modeling Using Excel And VBA
Authors: Chandan Sengupta
2nd Edition
047027560X, 978-0470275603
