Multiple Choice
An asset which costs $97,600 and has accumulated depreciation of $82,000 is sold for $18,000.What amount of gain or loss will be recognized when the asset is sold?
A) A gain of $15,600.
B) A loss of $15,600.
C) A loss of $2,400.
D) A gain of $2,400.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q1: Which of the following is not a
Q9: Intangible assets are assets used in business
Q32: A coal mine is regarded as an
Q66: To capitalize an expenditure means charging it
Q69: Physical deterioration refers to the process of
Q73: Wilbur Company purchased $10,000 of equipment on
Q81: Material gains and losses from the disposal
Q96: In the early years of an asset's
Q103: Sum-of-the-years' digits is a popular depreciation method
Q134: Incidental costs incurred in the purchase of