Question
The records of Coppell Sports showed the following information about a copy machine purchased for $40,000: Accumulated depreciation at December 31, Year 3 $13,000 Depreciation
The records of Coppell Sports showed the following information about a copy machine purchased for $40,000:
| Accumulated depreciation at December 31, Year 3 | $13,000 |
| Depreciation for the first six months of Year 4 | $2,000 |
On July 1, Year 4, the machine was sold for $20,000. How much is the gain or loss on disposal?
- $ 5,000 loss
- $ 10,000 loss
- $ 5,000 gain
- $15,000 gain
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
