Homework Answers
| Cost of the asset | $1,40,000 |
| Less:Accumulated Depreciation | $28,000 |
| Carrying value of asset on date of sale | $1,12,000 |
| Less:Sale value of asset | $1,12,000 |
| Gain/(Loss) | $0 |
| So Option A is answer |
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A company sold equipment that originally cost $140,000 for $112,000 cash. The accumulated depreciation on the...
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