Multiple Choice
On July 1, 2010, Hale Kennels sells equipment for $66,000. The equipment originally cost $180,000, had an estimated 5-year life and an expected salvage value of $30,000. The accumulated depreciation account had a balance of $105,000 on January 1, 2010, using the straight-line method. The gain or loss on disposal is
A) $9,000 gain.
B) $6,000 loss.
C) $9,000 loss.
D) $6,000 gain.
Correct Answer:
Verified
Correct Answer:
Verified
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