Homework Answers
Solution :-
The answer is Last Option : $39,760 .
Explanation :-
| Particulars | Amount |
| Cost of the Equipment | $690,000 |
| Accumulated Depreciation |
= [ [ $690,000 - 48,600 ] / useful lifetime ] * [ Depreciation from 2009 - 2017 ] = [ $641,400 / 10 ] * 9 years = $64,140 * 9 = $577,260 |
| Book value of equipment as on December 31,2017 |
= $690,000 - $577,260 = $112,740 |
| Sale value | $152,500 |
| Gain to be recognize |
= $152,500 - $112,740 = $39,760 |
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