In 20X6, an equipment owner sold a front-end loader for 75,000. The loader had a book value

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In 20X6, an equipment owner sold a front-end loader for ₹75,000. The loader had a book value of ₹1,00,000 and accumulated depreciation of ₹70,000. What is the accounting gain/loss on the sale of the loader?

(a) ₹25,000

(b) ₹30,000

(d) ₹45,000

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Financial Accounting For Management

ISBN: 9789385965661

4th Edition

Authors: Neelakantan Ramachandran, Ram Kumar Kakani

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Question Posted: Aug 26, 2023 04:18 AM

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In 20X6, an equipment owner sold a front-end loader for 75,000. The loader had a book value

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The accounting gain or loss on the sale of an asset is calculated as the difference between the sal...View the full answer

Financial Accounting For Management

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