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Would have a gain or loss on the disposal of the equipment

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Your company purchased a conveyor belt for its factory on January 1, 2015 for a cost of $5,000. The equipment had a salvage value of $500 and an estimated useful life of 10 years. The company uses straight-line depreciation.

Question 1: On January 1, 2019, you sold the conveyor belt for $3,800. Would you have a gain or loss on the disposal of the equipment? How much?

Reference no: EM132723983

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