Wright Development has a machine that it feels is no longer useful. After taking the current year's depreciation, the company decides to sell the machine and receives proceeds of $22,100. The accumulated depreciation has a balance of $30,000 and the cost of the asset was $65,700. Calculate the gain or loss on sale of the machine

Answer rating: 100% (QA)

To calculate the gain or loss on the sale of the machine we need to co... View the full answer