Multiple Choice
Ladd Company sold a plant asset that originally had cost $50,000 for $22,000 cash. If Ladd correctly reports a $5,000 gain on this sale, the accumulated depreciation on the asset at the date of sale must have been:
A) $33,000.
B) $28,000.
C) $23,000.
D) Some other amount.
Correct Answer:
Verified
Correct Answer:
Verified
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