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What is the amount of the gain or loss on the disposal

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Reference no: EM133059259

Question - Use the information below to answer the questions that follow. Enter your answers using digits only - no dollar signs, commas, or decimal points. The business's year-end is December 31.

Cost of equipment = 144000

Useful life in years = 6

Residual value = 0

Date purchased = March 1, 2021

Date of disposal = January 31, 2023

Cash received on disposal = 100000

1. What is the accumulated depreciation on the date of the disposal?

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

3. What is the amount of the gain or loss on the disposal?

Reference no: EM133059259

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