Question: Chris Crispy Chicken sold one of its used deep fryers

Chris' Crispy Chicken sold one of its used deep fryers for $5,000. The original cost of the fryer was $15,000, and related accumulated depreciation at the time of the sale was $7,000.
Required
Calculate the gain or loss on the sale of the deep fryer. For what amount would Chris need to sell the equipment to generate no gain or loss?



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  • CreatedJuly 16, 2015
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