Question
On January 1, 2012, Bonita Industries purchased for $684000, equipment having a useful life of ten years and an estimated salvage value of $40800.
On January 1, 2012, Bonita Industries purchased for $684000, equipment having a useful life of ten years and an estimated salvage value of $40800. Bonita has recorded monthly depreciation of the equipment on the straight-line method. On December 31, 2020, the equipment was sold for $115000. As a result of this sale, Bonita should recognize a gain of $50680. O $115000. $0. $9880.
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Financial accounting
Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thom
9th edition
978-0132751216, 132751127, 132751216, 978-0132751124
