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kherson [118]
3 years ago
10

On December 31, 2016, Hamilton Inc. sold a used industrial crane for $1,060,000 cash. The original cost of the crane was $5.30 m

illion and its accumulated depreciation equaled $4.35 million on December 31, 2016. What is the gain or loss from the December 31, 2016 equipment sale? a) $110,000 gain b) $950,000 gain c) $950,000 loss d) $110,000 loss
Business
1 answer:
WITCHER [35]3 years ago
8 0

Answer: a) $110,000 gain

Explanation:

Book value as on date of sale=Cost - Accumulated Depreciation

=$5,300,000 -  $4,350,000

=$950,000

 Gain on sales =1,060,000-950,000

=$110,000.

A gain because  sales proceeds was greater than the  Book value;

On December 31, 2016, Hamilton Inc recorded a gain of $110,000 gain

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Answer:

$ in thousands) 2020

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Explanation:

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A certain bookstore chain has two stores, one in San Francisco and one in Los Angeles. It stocks three kinds of books: hardcover
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If the sales during the next five months were actually the same, then to determine total sales all we have to do is multiply January's sales by 6.

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