Multiple Choice
On July 1 2022 Dillman Kennels sells equipment for $110000.The equipment originally cost $300000 had an estimated 5-year life and an expected salvage value of $50000.Accumulated Depreciation had a balance of $175000 on January 1 2022 using the straight-line method.The gain or loss on disposal is
A) $15000 gain.
B) $10000 loss.
C) $15000 loss.
D) $10000 gain.
Correct Answer:
Verified
Correct Answer:
Verified
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