Alexandra sold equipment that she uses in her business for $101,400. Alexandra bought the equipment two years ago for $90,700 and has claimed $12,050 of depreciation expense. What is the amount and character of Alexandra's gain or loss?

Question

Quizplus · Accepted Answer

The Answer of Alexandra sold equipment that she uses in her business for $101,400. Alexandra bought the equipment two years ago for $90,700 and has claimed $12,050 of depreciation expense. What is the amount and character of Alexandra's gain or loss?

Alexandra Sold Equipment That She Uses in Her Business for $101,400