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What is the accumulated depreciation on the date of disposal

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Reference no: EM132935299

The business's year-end is December 31.

Cost of equipment = 90000
Useful life in years = 6
Residual value = 0
Date purchased = May 1, 2021
Date of disposal = June 30, 2023
Cash received on disposal = 60000

Problem 1: What is the accumulated depreciation on the date of the disposal?

Problem 2: What is the book value of the equipment on the date of the disposal?

Problem 3: What is the amount of the gain or loss on the disposal

Reference no: EM132935299

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