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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 = 120000 Useful life in years = 10 Residual value = 0 Date purchased = February 1, 2021 .Date of disposal October 31, 2023 = Cash received on disposal = 85000 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. A
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