Ask Question
4 December, 16:58

Hampton purchased a machine two years ago for $5500. Over the last two years, Hampton has taken a total of $1900 of depreciation on the machine. Now, Hampton sells the machine for $2000 What is Hampton's gain or loss on this sale? (Input a gain as a positive number and a loss as a negative number) ?

+1
Answers (1)
  1. 4 December, 17:15
    0
    -$1600

    Step-by-step explanation:

    The book value of the machine after 2 years is ...

    $5500 - 1900 = $3600

    If sold for $2000, the gain is ...

    $2000 - 3600 = - $1600

    The company lost $1600 on the sale.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Hampton purchased a machine two years ago for $5500. Over the last two years, Hampton has taken a total of $1900 of depreciation on the ...” in 📗 Mathematics 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