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Use the information below to answer the questions that follow. Enter your answers using digits only - no dollar signs, commas, or decimal points.
Use the information below to answer the questions that follow. Enter your answers using digits only - no dollar signs, commas, or decimal points. The business's year-end is December 31. Cost of equipment = 60000 Useful life in years = 5 Residual value = 0 Date purchased = August 1, 2021 Date of disposal = April 30, 2023 Cash received on disposal = 32000 What is the accumulated depreciation on the date of the disposal? A/ What is the book value of the equipment on the date of the disposal? What is the amount of the gain or loss on the disposal? If a loss, start your answer with a - sign.
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