Homework Answers
Answer : B) $12,400 :Loss
Gain (loss) on Assets Sold = Book value -Selling Price
Book Value = Cost - accumulated Depreciation
Depreciation = (37000-9000)/5 = 5,600
Book Value on December 31,2019 = 37000-5,600 =31,400
Gain (loss) = 19,000-31,400 =12,400 Loss
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