Question
On July 1, 2017, Hale Kennels sells equipment for $330,000. The equipment originally cost $300,000, had an estimated 5-year life and an expected residual value
On July 1, 2017, Hale Kennels sells equipment for $330,000. The equipment originally cost $300,000, had an estimated 5-year life and an expected residual value of $150,000. The accumulated depreciation account had a balance of $525,000 on January 1, 2017, using the straight-line method. The gain or loss on disposal is
a.$45,000 gain.b.$30,000 loss.
c.$45,000 loss.d.$30,000 gain.
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International Financial Management
Authors: Cheol Eun, Bruce G. Resnick
8th edition
125971778X, 978-1259717789
