A Company purchased some industrial kitchen equipment on March 1, 2020 for $13,860 and expects it to be useful for 8 years at which time it will be worth $900. If the company sold the equipment on December 31, 2023 for $8,000 what amount of gain or loss would it record on the sale? Use a positive number to indicate a gain or a negative number to indicate a loss.

Answer rating: 100% (QA)

To calculate the gain or loss from selling the industrial kitchen equipm... View the full answer