On January 1, 2012, Vaughn Manufacturing purchased for $768000, equipment having a useful life of ten years and an estimated salvage value of $42600. Vaughn
On January 1, 2012, Vaughn Manufacturing purchased for $768000, equipment having a useful life of ten years and an estimated salvage value of $42600. Vaughn has recorded monthly depreciation of the equipment on the straight-line method. On December 31, 2020, the equipment was sold for $125000. As a result of this sale, Vaughn should recognize a gain of:
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Authors: W. Steve Albrecht, James D. Stice, Earl K. Stice, Monte R. Swain
10th Edition
0324376154, 978-0324376159
