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On May 1, 2021, Sunland Company sells office furniture for $312000 cash. The office furniture originally cost $749200 when purchased on January 1, 2014. Depreciation
On May 1, 2021, Sunland Company sells office furniture for $312000 cash. The office furniture originally cost $749200 when purchased on January 1, 2014. Depreciation is recorded by the straight-line method over 10 years with a salvage value of $81400. What gain should be recognized on the sale? (Hint: Use 7.333333 for years used in calculation.) Given the following account balances at year end, compute the total intangible assets on the balance sheet of Bonita Enterprises. $13005000$17001000$5989000$18994000
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