Question

Sylvan Manufacturing disposed of equipment that had been used in the business for six years. The equipment originally cost $65,000 and had associated accumulated depreciation of $45,000. Calculate the gain or loss on the disposal of the equipment for each of the following situations:
1. The company sold the equipment to a scrap yard for $10,000.
2. The company sold the equipment to a competitor for $23,525.
3. The company called the city trash collectors to pick up the equipment because it was totally worthless.



$1.99
Sales0
Views51
Comments0
  • CreatedSeptember 01, 2014
  • Files Included
Post your question
5000