On December 31, 2016, Hamilton Inc. sold a used industrial crane for $600,000 cash. The original cost of the crane was $5.0 million and its accumulated depreciation equaled $4.2 million on December 31, 2016. What is the gain or loss from the December 31, 2016 equipment sale? A. $200,000 loss.
B. $200,000 gain.
C. $600,000 gain.
D. $600,000 loss.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “On December 31, 2016, Hamilton Inc. sold a used industrial crane for $600,000 cash. The original cost of the crane was $5.0 million and its ...” 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
Consider two economic regions, region A and region B. If region A has strict union protection laws present, while region B lacks union protection laws, we can expect that region A will have a higher about the same a lower unemployment rate compared
Answers (1)
Calvin and Liz have summarized several lengthy research items for their business plan. In case an investor wants more details on the research, they've also included A. a file of price quotes and survey results. B. their mission statement. C.
Answers (2)
What's the difference between macro and operating environments in business?
Answers (1)
Agri Farm Ventures produces cases of food products. Each case contains an assortment of fruits, vegetables, and other fresh produce. Each case costs $5 and sells for $15.
Answers (2)
The direct write-off method A) is acceptable for financial reporting purposes. B) debits Allowance for Doubtful Accounts to record write-offs of accounts. C) estimates bad debt losses.
Answers (1)
New Questions in Business
What is the difference between capital gain and capital loss?
Answers (1)
g The Council of Economic Advisors to the President of a country reported gross investment expenditure at $400,000 during a particular year.
Answers (1)
What are the order of in which management can take legal action against a employee
Answers (1)
What best describes an entrepreneur? a. Someone who initiates and assumes the financial risk of a new business enterprise. b. A person who knows how to evaluate which stocks to purchase. c. Someone who can expertly manage other people's investments.
Answers (1)
JRN Enterprises just announced that it plans to cut its dividend from $3.50 to $2.50 per share and use the extra funds to expand its operations.
Answers (1)