An asset that costs $14,400 and has accumulated depreciation of $8,000 is sold for $5,600. What amount of gain or loss will be recognized when the asset is sold?
A) A gain of $2,400.
B) A loss of $2,400.
C) A loss of $800.
D) A gain of $800.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “An asset that costs $14,400 and has accumulated depreciation of $8,000 is sold for $5,600. What amount of gain or loss will be recognized ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
A store manager wishes to reduce the price of her fresh ground coffee by mixing two grades. if she has 50 pounds of coffee which sells for $1.
Answers (1)
A company wants to decrease its $200 petty cash fund to $175. the entry to reduce the fund is:
Answers (1)
The workers in the united states, canada, the netherlands, germany, and japan are the highest paid and most productive workers in the world which of the following statments correctly states why
Answers (1)
What is the difference between seasonal unemployment and structural unemployment? a Seasonal unemployment occurs because of schedules, whereas structural occurs because people lack skills. b.
Answers (1)
You want to buy a new sports car from Muscle Motors for $57,500. The contract is in the form of a 60-month annuity due at an APR of 5.9 percent.
Answers (1)
New Questions in Business
The culture of UPS places service to the customer among the company's highest business objectives, which is reflected in their use of information systems to enable customer tracking of their packages.
Answers (1)
Employers bond employees who handle cash receipts because fidelity bonds reduce the possibility of employing dishonest individuals and Deter dishonesty by making employees aware that insurance companies may investigate and prosecute dishonest acts.
Answers (1)
1. A complaint of sexual harassment by a part-time worker in a hardware business was upheld when the Tribunal found that the employer had failed to take sufficient action in relation to the employee's report of inappropriate behaviour.
Answers (1)
Suppose that the government sets a price floor for milk that is above the competitive equilibrium price With the price floor, consumers are willing to purchase the quantity indicated where the price floor intersects the With the price floor, the
Answers (1)
Choose the best revision of the previous sentence. Because many executives have access to company jets boards of directors have a responsibility to ensure that shareholders are not footing the bill for personal travel.
Answers (1)