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Mama L [17]
3 years ago
9

Tulip Corporation purchased equipment for $ 54 comma 000on January​ 1, 2017. On December​ 31, 2019, the equipment was sold for $

25 comma 000.Accumulated Depreciation as of December​ 31, 2019 was $ 28 comma 000.Calculate gain or loss on the sale.
Business
1 answer:
Digiron [165]3 years ago
6 0

Answer:

Gain/loss= $1,000 loss

Explanation:

Giving the following information:

Original price= $54,000

Accumulated depreciation= $28,000

Seling price= $25,000

The gain or loss from selling an asset depends on the book value.

Book value= original price - accumulated depreciation

Book value= 54,000 - 28,000= 26,000

If the selling price is higher than the book value, the company gain from the sale.

Gain/loss= 25,000 - 26,000= $1,000 loss

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Answer:

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Explanation:

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In commodity markets it is typically true that: (note: only one statement is correct) Group of answer choices there are only a f
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Answer:

producers are "price takers".

Explanation:

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3 years ago
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How would one demonstrate empathy in a problem resolution with a customer if they are prohibited from helping the customer?
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Ezmerelda jewelers has a marginal tax rate of 32 percent and an average tax rate of 20.9 percent. if the firm owes $34,330 in ta
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Ezmerelda jewelers have a marginal tax rate of 32 percent and an average tax rate of 20.9 percent. if the firm owes $34,330 in taxes,  

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There are two main types of taxes: direct taxes and indirect taxes. Both tax implementations are different. Some are paid directly, such as reduced income tax, corporate income tax, and wealth tax, while others are paid indirectly, such as consumption tax, service tax, and consumption tax.

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