Equipment to be sold has a book value of $4,000 The cost of the equipment is $10,000

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Equipment to be sold has a book value of $4,000 The cost of the equipment is $10,000 The cash received at sale is $2,000 What is the gain or loss on disposal of the equipment?

a. Loss on disposal of $6,000.

b. Gain on disposal of $2,000.

c. Loss on disposal of $4,000.

d. Loss on disposal of $2,000.

Related Book For answer-question

Governmental and Nonprofit Accounting

ISBN: 978-0132751261

10th edition

Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi

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Posted Date: Jul 27, 2021 03:27 AM

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Equipment to be sold has a book value of $4,000 The cost of the equipment is $10,000

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B gain on disposal of 2000 Assets that are to be disposed of other than by way of sale are labeled a... View the full answer

Governmental and Nonprofit Accounting

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