Assume that a machine with a cost of $9000 has accumulated depreciation of $4800 on the date

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Assume that a machine with a cost of $9000 has accumulated depreciation of $4800 on the date of its disposal. If it was traded-in for $4000 on a new machine and the balance of $2000 was paid in cash.

What is the profit or loss on disposal of the old machine? (Ignore GST.)

Related Book For answer-question

Intermediate accounting

ISBN: 978-0077647094

7th edition

Authors: J. David Spiceland, James Sepe, Mark Nelson

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Posted Date: Apr 15, 2023 03:34 AM

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Assume that a machine with a cost of $9000 has accumulated depreciation of $4800 on the date

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Intermediate accounting

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