Question: Could you pleas help me with this ? Compute the gain or (loss) on the sale equipment using the following Gain (loss) = Cash Received

Could you pleas help me with this ?

Compute the gain or (loss) on the sale equipment using the following Gain (loss) = Cash Received - Book Value Gain (loss) = Cash Received - (Cost - Accumulated Depreciation) Compute the depredation for one year using the straight line method with the given the following data: Equipment is recorded on our books at historical cost. Each period depreciation expense is booked to give us the current carrying value of the equipment. The recording of depreciation expense is a: Market valuation technique Cost allocation technique Internal Control Way to assess fair value

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