Question
Porter Company sold equipment for $33,000 cash. The original cost of the equipment was $50,000. The accumulated depreciation on this equipment was $20,700. what is
Porter Company sold equipment for $33,000 cash. The original cost of the equipment was $50,000. The accumulated depreciation on this equipment was $20,700. what is the result of the sale of this equipment?
a. $33,000 Gain
b. $3,700 Gain
c. $17,000 Loss
d. $3,700 Loss
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Financial Accounting Theory
Authors: William R Scott
5th Edition
0132072866, 978-0132072861
