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mote1985 [20]
3 years ago
14

A copy machine costs $45,000 when new and has accumulated depreciation of $44,000, Suppose Print and Photo Center junks this mac

hine, receiving nothing.
What is the result of the disposal transaction?

a. No gain or loss
b. Gain of $1,000
c. Loss of $1,000
d. Loss of $45,000
Business
1 answer:
Alex_Xolod [135]3 years ago
4 0

Answer:

correct option is c. Loss of $1,000

Explanation:

given data

machine costs = $45,000

accumulated depreciation = $44,000

Sale value = $0

solution

first we get compute book value of machine at sale time  

Book value of machine = Cost of the machine - Accumulated depreciation   ...............1

put here value

Book value of machine = $45,000 - $44,000

Book value of machine = $1,000

and

now we get gain or loss on the sale of the machine

Loss on sale of machine = Book value of machine - Sale value    ..................2

put here value and we get

Loss on sale of machine = $1,000 - $0

Loss on sale of machine = $1,000

so correct option is c. Loss of $1,000

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