A Fixed Asset With a Cost of 30000

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A fixed asset with a cost of 3216700 and accumulated depreciation of 2895030 is sold for 546839. What is the amount of the gain or loss on disposal of the fixed asset.

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A fixed asset with a cost of 30000 and accumulated depreciation of 28500 is sold for 3500.

. The amount of gain or loss on the disposal of the fixed assets is computed as. A fixed asset with a cost of 30000 and accumulated depreciation of 28500 is sold for 3500. What is the amount of the gain or loss on the sale of this asset.

Answer - The Correct Answer is Option C - 500 Explanation - Cost of Fixed Assets 30000 Accumulated Depreciation View the full answer Previous question Next question. 1500 loss A gain is recorded on the sale of fixed assets when the assets book value is less than the cash received. What is the amount of the gain or loss on disposal of the fixed asset.

A fixed asset with a cost of 30000 and accumulated depreciation of 25000 is sold for 3500. A fixed asset with a cost of 30000 and accumulated depreciation of 28500 is sold for 3500. Question 6 of 20 50 50 Points A fixed asset with a cost of 30000 and accumulated.

View the full answer. A 2000 loss b 3500 gain c 1500 loss. A fixed asset with a cost of 30000 and accumulated.

Selling Price is 27500. Compute the gain or loss on fixed asset using the equation given below. Select the correct answer.

A 7500 b 9000 c 1500 d 6000. Cost of fixed assets is 30000. If a fixed asset cost 30000 has a scrap value of 6000 and a life of 4 years the annual depreciation charge is.

The costs to assign to a fixed asset are its purchase cost and any costs incurred to bring the asset to the location and condition needed for it to operate in the manner intended by management. A fixed asset with a cost of 41000 and accumulated depreciation of 36000 is traded for a similar asset priced at 50000 fair market value in a transaction with commercial substance. Equipment with a cost of 220000 has an estimated residual value of 30000 and an estimated life of 10 years or 19000 hours.

Purchase price of the item and related taxes. What is the amount of the gain or loss on disposal of the fixed asset. Question 6 of 20 50 50 points a fixed asset with a.

A fixed asset with a cost of 30000 and accumulated depreciation of 27500 is sold for 3500. A3500 gain b2000 loss c2000 gain X d1500 loss. What is the amount of the gain or loss on disposal of the fixed asset.

A fixed asset with a cost of 30000 and accumulated depreciation of 28500 is sold for 3500. Pages 6 Ratings 100 7 7 out of 7 people found this document helpful. A fixed asset with a cost of 30000 and accumulated depreciation of 28500 is sold for 3500.

A fixed asset with a cost of 30000 and accumulated depreciation of 28500 is sold for 3500. Be sure to show your work. Course Title ACCT 300.

27500 3500 - 30000 31000 - 30000 1000. Construction cost of the item which can. What is the amount of the gain or loss.

A fixed asset with a cost of 30000 and accumulated depreciation of 25000 is sold for 3500. A fixed asset with a cost of 30000 and accumulated depreciation of 28500 is sold for 3500. Accounting questions and answers.

41 a fixed asset with a cost of 30 000 and accumulated depreciation of 27 500 is sol 4327571 41A fixed asset with a cost of 30000 and accumulated depreciation of 27500 is sold for 3500. Amount of loss or gain Selling Price Accumulated depreciation - Cost of fixed assets. What is the amount of the gain or loss on disposal of the fixed asset.

Gain or loss accumulated depreciation selling price - cost of fixed asset 28500 3500 - 30000 2000 Hence there is gain of 2000 on disposal of the fixed asset. What is the amount of the gain or loss on disposal of the fixed asset. Record the journal entries for the amount of gain or loss on disposal of the fixed asset.

Cost of fixed asset 30000 Accumulated depreciation. It is to be depreciated. A fixed asset with a cost of 30000 and accumulated depreciation of 27500 is sold A fixed asset with a cost of 30000 and accumulated School West Texas AM University.

What is the amount of the gain or loss on disposal of the fixed asset. Putting the values above. A fixed asset with a cost of 30000 and accumulated.

2000 gain When a company discards machinery that is fully depreciated this transaction would be recorded with the following entry debit Accumulated Depreciation. School American Public University. A fixed asset with a cost of 30000 and accumulated depreciation of 28500 is sold for 3500.

If a fixed asset such as a computer were purchased on January 1st for 3750 with an estimated life of 3 years and a salvage or. A fixed asset with a cost of 30000 and accumulated depreciation of 24000 is sold for 3500. QUESTION 13 A fixed asset with a cost of 30000 and accumulated depreciation of 28500 is sold for 3000.

A 2500 loss The process of recognizing the cost of metal ores and other minerals removed from the earth as expense is called. What is the amount of the gain or loss on disposal of the fixed asset. More specifically assign the following costs to a fixed asset.

Accumulated depreciation is 3500.

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