company received a fixed asset as a donation and the market value of this fixed asset was$
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company received a fixed asset as a donation and the market value of this fixed asset was$ 10,000. The depreciation rate of this asset is 20%pa. Asset was immediately put into use. The company sold this car after 2 years for the price of $ 5,000. What is the result of P/L section"profit(loss) on sale " in this comay inthe year of sale?
Related Book For
Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
ISBN: 978-1337614689
9th edition
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
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