question 8

Question 8 Tomato Company sold an asset after 6 years of use for $44,000 cash. The asset's life was originally estimated to be 9 years. The original cost was $84,000 with an estimated residual value of $21,000. The asset was being depreciated using the straight-line method. What was the gain or loss on the disposal? A loss of 2,000 A loss of 40,000 Again of 2,000 Again of 40,000 Question 9 On January 1, 2005, Dent Co. purchased a machine for $792,000 and depreciated i line method using an estimated life of 8 years with no salvage value. On January 1, 2 determined that the machine had a useful life of six years from the date of acquisiti salvage value of $72,000. An accounting change was made at the beginning of 200