On December 31, Strike Company has decided to sell one of its batting cages. The initial cost of the equipment was $215,000 with an accumulated depreciation of $185,000. Depreciation has been taken up to the end of the year. The company found a company that is willing to buy the equipment for $30,000. What is the amount of the gain or loss on this transaction?
A) Gain of $30,000
B) Loss of $30,000
C) No gain or loss
D) Cannot be determined
C
You might also like to view...
As a marketing researcher of a firm, you have planned to conduct behavioral research to develop marketing insight. What procedure would you follow in this case?
What will be an ideal response?
Consumers of the final goods and services are involved in B2B trading.
Answer the following statement true (T) or false (F)
Which of the following is the best example of a consumer good?
A) the riding lawn mower purchased by the landscaping company B) the disposable diapers purchased by the new mother for her baby C) the paint purchased by the contractor D) the cookies purchased for the daycare center E) the art supplies purchased for the elementary school art center
Break-even analysis is used to examine the relationship between ________
A) fixed costs and variable costs B) costs and contributions C) costs and price D) demand and costs E) demand and profits