A personal computer that originally cost $5,000 has no est the third year, the computer was sold for $1,500 cash. The transaction would result in a Oa. loss of $1,500. Ob. gain of $250. C. loss of $250. Od. gain of $1,500.
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- A dump truck was bought for P $ 30,000 six years ago. It will have a salvage value of $ 3,000 four years from now. The owner sold it now for $ 8,000. If depreciation used is Sinking Fund Method at 6%, find the gain or loss in the selling of the dump truck. Show complete solution. Do not use excel a. $7,712 loss b. $5,214 loss c. $7,712 gain d. $5,214 gainA copy machine cost $33,000 when new and has accumulated depreciation of $30,000. Suppose ABC Printing discards this machine and receives nothing. What is the result of the disposal transaction? OA. No gain or loss OB. Loss of $3,000 OC. Loss of $33,000 O D. Gain of $3,000A copy machine cost $45,000 when new and has accumulated depreciation of $44,000. Suppose Print and Photo Center discards this machine and receives nothing. What is the result of the disposal transaction? Loss of $45,000 Gain of $1,000 Loss of $1,000 No gain or loss OO
- A copy machine cost $32,000 when new and has accumulated depreciation of $26,000. Suppose Copy Center sold the machine for $6,000. What is the result of this disposal transaction? OA. Loss of $6,000 OB. Loss of $26,000 OC. Gain of $6,000 OD. No gain or lossA copy machine cost $39,000 when new and has accumulated depreciation of $25,000. Suppose Print Center sold the machine for $14,000. What is the result of this disposal transaction? OA. Gain of $14,000 OB. Loss of $25,000 OC. Loss of $14,000 D. No gain or loss1. Mr. A purchased a new service van. The van is depreciated over a 10-year period with a salvage value of P500,000 a. If the van will be worth P870,550 after six years using declining balance method, how much did Mr. A purchase the van? b. If the van was purchased for P1,960,000, determine the worth of the van after eight years using double declining balance method. c. If the van was purchased for determine the worth of the van after eight years using SYD method.
- A dump truck was bought for P $ 30,000 six years ago. It will have a salvage value of $ 3,000 four years from now. The owner sold it now for $ 8,000. If depreciation used is Sinking Fund Method at 6%, find the gain or loss in the selling of the dump truck.A commercial printing press costs $35,000 when new and has accumulated depreciation of $26,000. Suppose Quick Copy disposes of this machine and receives nothing. What is the gain or loss on the transaction? Loss of $9,000 Gain of $61,000 Loss of $61,000 Loss of $35,000Albert Corp. bought a machine for $10,000 thirteen years ago. It has been depreciated on a straight-line basis over a 20-year life with no salvage value. The firm just sold the machine for $6,000. How much gain/loss should be reported on the sale? a. $4,000 loss b. $2,500 loss c. No gain or loss d. $2,500 gain e. $4,000 gain
- Bravo Company's furnace, which has a current book value of $40,000 (original cost less than accumulated depreciation), has been destroyed. If the insurance company pays Bravo $45,000, which of the following transactions is Bravo supposed to record? Select the single best answer: A debit Cash $45,000 credit Equipment/Furnace $45,000 B. debit Cash $40,000, debit Equipment/Furnace $40,000 C credit Gain on Disposition of Equipment/Furnace $45,000, debit Cash $45,000 D. debit Equipment/Furnace $5,000 credit Equipment/Furnace $40.000, debit Cash $45,000 E credit Gain on Disposition of Equipment/Furnace $5,000 credit Equipment/Furnace $40,000; debit Cash $45.0002) A company purchased a machine for $20,000 and paid transportation cost of $5,000. At the end of 7 years, the company had no further use for this machine, so it sell the machine for $12,000. The company had depreciated the machine on sum-of- years-digits method, using an estimated life of 10 years and $Y (please see the table for your value) salvage value at the end of its life. a) What is the total investment cost for this machine? b) By what amount did the recovered depreciation fail to cover the actual depreciation (at third year)?A certain machinery costs P 50,000 lasts 12 years with a salvage value of P 5,000. If the owner decides to sell it after using for 5 years, what should be his price be so that he will not lose or gain financially in the transactions? Use double declining balance method for depreciation.