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What is the book value of the equipment at December 31, 2016? What is the amount of the gain or loss on the date of

What is the book value of the equipment at December 31, 2016?
What is the amount of the gain or loss on the date of the sale? image text in transcribed
ACCT 2101 Hw#6 (Long-term assets) (1) Yeun Company purchased machinery that cost $75,000 on January 1, 2016. The machinery had a five year life with no salvage value. On December 31, 2017, Yeun sold the equipment for $40,000 Required (show all calculations A. What is the book value of the equipment at December 31, 2016? B. what is the amount of the gain or loss on the date of the sale

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