Homework Answers
|
Initial Cost of the Equipment |
$145,000 |
|
Less: Accumulated Depreciation before Disposal |
($122,000) |
|
Actual Cost of the Equipment before Disposal |
$23,000 |
|
Equipment disposed of for Cash |
$34,000 |
|
Less: Actual Cost of the Equipment before Disposal |
($23,000) |
|
Gain on Disposal |
$11,000 |
The correct option is the 2nd Option: Gain of $11,000
Add Answer to:
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