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?

Answer rating: 100% (QA)

In the year of sale the company will recognize a loss on the sale of the donated fixed asset in the ... View the full answer