On December 31, Strike Company sold one of its batting cages for $224,697. The equipment had an original cost of $264,350 and has accumulated depreciation of $39,653. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction?
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On December 31, Strike Company sold one of its batting cages for $224,697. The equipment had an original cost of $264,350 and has
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- Strike company sold one of its batting cages for $20,000. The equipment had an initial cost of $310,000 and had accumulated depreciation of $260,000. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction?On December 31, Strike Company sold one of its batting cages for $12,489. The equipment had an initial cost of $427,900 and has accumulated depreciation of $406,505. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction? a.Loss of $12,489 b.Loss of $8,906 c.Gain of $8,906 d.Gain of $12,489On December 31, Strike Company sold one of its batting cages for $13,293. The equipment had an initial cost of $413,300 and has accumulated depreciation of $392,635. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction? O a. loss of $7,372 O b. gain of $7,372 O c. loss of $13,293 Od. gain of $13,293
- On December 31, Strike Company sold one of its batting cages for $194,607. The equipment had an original cost of $228,950 and has accumulated depreciation of $34,343. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction? a.loss of $(34,343) b.gain of $45,791 c.no gain or loss d.can't be determined with data providedOn December 31, Strike Company has decided to sell one of its batting cages. The initial cost of the equipment was $260,520.00 with an accumulated depreciation of $247,494.00. Depreciation has been taken up to the end of the year. The company found a company that is willing to buy the equipment for $29,959.80. What is the amount of the gain or loss on this transaction? Select the correct answer. Gain of $29,959.80 Gain of $16,933.80 Loss of $16,933.80 Cannot be determinedOn December 31, Strike Company sold one of its batting cages for $198,177. The equipment had an original cost of $233,150 and has accumulated depreciation of $34,973. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction? a.gain of $46,631 b.no gain or loss c.loss of $(34,973) d.can't be determined with data provided
- On December 31, Strike Company has decided to discard one of its batting cages. The equipment had an initial cost of $206,400 and has accumulated depreciation of $185,760. Depreciation has been recorded up to the end of the year. Which of the following will be included in the entry to record the disposal? a.Equipment, credit, $206,400 b.Gain on Disposal of Asset, credit, $20,640 c.Accumulated Depreciation, debit, $206,400 d.Loss on Disposal of Asset, debit, $185,760On December 31, Strike Company sold one of its batting cages for $10,952. The equipment had an initial cost of $472,600 and has accumulated depreciation of $448,970. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction? Oa. gain of $12,678 Ob. loss of $12,678 Oc. loss of $10,952 Od. gain of $10,952On December 31, Strike Company has decided to discard one of its batting cages. The equipment had an initial cost of $209,525 and has accumulated depreciation of $188,572.50. Depreciation has been recorded up to the end of the year. Which of the following will be included in the entry to record the disposal? a.Accumulated Depreciation, debit, $209,525 b.Gain on Disposal of Asset, credit, $20,952.50 c.Loss on Disposal of Asset, debit, $188,572.50 d.Equipment, credit, $209,525
- On December 31, Strike Company sold one of its batting cages for $50,000. The equipment had an original cost of $310,000 and has accumulated depreciation of $260,000. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction? Ogain of $50,000 Obloot of $50,000 Oc no gain or loss Od cannot be determinedOn February 1, 2006, Mason Company purchased a building for $359,000. The building was assigned a useful life of forty years and a salvage value of $11,000. XYZ Company uses the straight-line depreciation method to calculate depreciation on its long-term assets. The building was sold for $121,000 cash on August 1, 2029. Calculate the amount of the loss recorded on the sale. Do not enter your answer with a minus sign in front of your number.Kerr Company purchased a machine for P115,000 on January1, year 1, the company’s first day of operations. At the end of the year, the current cost of the machine was P125,000. The machine has no salvage value, a five-year life, and is depreciated by the straight-line method. For the year ended December 31,year 1, the amount of the current cost depreciation expense which would appear in supplementary current cost financial statements is P14,000 P23,000 P24,000 P25,000