Computers, trucks, and production equipment are all examples of equipment. they're tangible due to the fact they have got a bodily shape n contrast to intangible belongings inclusive of patents, emblems, or copyrights that do not.
The system changed into obtained at the beginning of the year at a value of <u>$7, 300.</u>
calculate the gain or loss from the sale of equipment as follows:
step 1:
Calculate the sporting value of the device on the give up of the second one 12 months as follows:
1 book cost depreciation carrying value at the give-up of the 12 months
12 months 1 $36,500 $7,300 $29,200
12 months 2 $29,2900 $23,360
Account Titles and clarification Debbit credit
coins $8440
Accountant Depreciation equipment $thirteen, one hundred forty
loss of sale gadget $14,920
equipment $36,500
Depreciation for first yr is $36,500x10percentx2
=$7,300
subsequently, depreciation for the first 12 months is $7,300.
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