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Requirement 2: Assume Equipment is Sold for Amount in Cell B9 (a) Calculate Gain or Loss on Sale: (Use cells A2 to B11 from the
Requirement 2: Assume Equipment is Sold for Amount in Cell B9 | ||||||||
(a) Calculate Gain or Loss on Sale: | ||||||||
(Use cells A2 to B11 from the given information above to complete this question. Accumulated depreciation should be presented as a positive amount. Hint: In cell A43, input a conditional IF statement to return the word "Gain" if cell C43 is a positive amount or "Loss" if cell C43 is a negative amount.) | ||||||||
Sale amount | ||||||||
Less: | ||||||||
Original cost of equipment | ||||||||
Less: Accumulated depreciation | ||||||||
Book value at end of year 3 | ||||||||
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