1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Leokris [45]
1 year ago
13

) on december 31st, gil company has decided to sell one of its machines. the initial cost of the equipment was $225,000 with an

accumulated depreciation of $170,000. depreciation has been taken up to the end of the year. gil company found a company that is willing to buy the equipment for $18,000. what is the amount of the gain or loss on this transaction? (and please be sure to write the word "ga
SAT
1 answer:
Monica [59]1 year ago
5 0

Loss on the transaction is $37,000

As per given data

Cost of Cages = $206,790

Accumulated depreciation = $186,111

Selling Price = $18,611.10

Sale price of Asset is compared with the net book value of that asset to calculate the gain or loss arising from the sale of asset.

Net book value is the net value of the cost of asset and the accumulated depreciation of that asset.

Net Book Value = Cost of Cages - Accumulated depreciation

Net Book Value = $225,000 - $170,000 = $55,000

Selling Price = $18,000

Loss on Sale of asset = $55,000 - 18,000 = $37,000

Therefore,

Loss on the transaction is $37,000

Find out more information about gain or loss here

brainly.com/question/23771328

#SPJ4

You might be interested in
Science has some limitations: It can be used only to answer certain types of questions. Which of the following questions can be
Otrada [13]

D. where is liquid water found in our solar system I think is the correct answer

6 0
2 years ago
Help me please I need help
eimsori [14]

Answer: 6x-17

Explanation:

5 0
3 years ago
What is the cheapest way to eat while in college. A.stock up on noodles B.Eat at fast food restaurants. C.Dine at local restaura
vlada-n [284]
D buy a meal plan!!! I'm not sure. But stocking up on noodles sounds like a good idea too!!!
5 0
3 years ago
Read 2 more answers
The price that a company charged for a computer accessory is given by the equation mc013-1. Jpg where x is the number of accesso
qwelly [4]
45 million is the right answer
7 0
2 years ago
What is the missing reason in step 3? triangle angle sum theorem sas congruency theorem sss congruency theorem cpctc
Nostrana [21]

Answer:

 Answer key for quiz chose triangle sum theorem got it wrong at least we know that's not it  

Explanation:

answer key for rest of quiz   1   CPCTC                                                          

                                               2    6 cm

                                               3    13 in

                                               4    80 cm

                                               5    wrong

                                               6     40

                                               7     26 m

                                               8     4 in

                                               9     9 cm

                                               10    105

5 0
2 years ago
Other questions:
  • Which of the following MOST influenced Michael
    6·1 answer
  • If an individual started running 10 miles three times a week, there would most likely be an __________.
    5·2 answers
  • Which sentence (A or B) or sentences ( A and B) have correct parallel structure?
    12·1 answer
  • Has anyone received this message while trying to sign fasfa? If so, What needs to be done to let it accept signatures so we can
    11·1 answer
  • In 2012, the Office of Management and Budget reported calculations of cost and benefits of regulations by major government agenc
    7·1 answer
  • Solve for x. 9(x + 1) = 25 + x x = 2 x = 3 x = 4 x = 5.
    8·1 answer
  • Which conclusion best explains the narrator's inability
    8·1 answer
  • Jenna is helping her family decide which water filtration technology they should install in their house. which of these provides
    6·1 answer
  • Jake has just arrived at work. He starts typing a report that he has been working on for most of the week. In the middle of this
    6·1 answer
  • A coworker performs a large favor for you. Based on ________, you will now feel obligated to do a favor for them. Group of answe
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!