Calibri 11 B . X fo D E F G H 5) date placed in service: 4/1/2022 cost: $500,000 useful life: sales price $10,000 date sold: 12/31/2047 10 yrs a) What is the depreciation expense for yr 1 using the straight-line method? $50,000 b) What is the balance in the accumulated depreciation account on 12/31/2023? c) Calculate any gain or loss when the fixed asset is sold 6) date placed in service: 1/1/2022 cost: $1,200,000 useful life: sales price $100,000 date sold: 12/31/2030 10 yrs + + a) Calculate any gain or loss when the fixed asset is sold. b) What is the balance in the accumulated depreciation account on 12/31/2028? c) Assume the fixed asset was sold for $5,000 on 12/31/2036, calculate the gain or loss on the sale. Pg 1 Pg 2 Pg 3 Pg 4 + alation Mode: Automatic Workbook Statistics