On January 1, 2018, Frontier Corporation purchased for $474,000, equipment having a useful life of ten years and an estimated salvage value of $24,000. Adventure has recorded depreciation of the equipment on the straight-line method. On December 31, 2025, the equipment was sold for $84,000.
As a result of this sale, Frontier should recognize:

Question

Quizplus · Accepted Answer

₍_$₄₇₄_{,000 - $}₂₄_{,000) / 10 = $}₄₅_,000 _$₄₇₄_{,000 - ($}₄₅_{,000 x 8) = $}₁₁₄_{,000 book value} _$₈₄_{,000 - $}₁₁₄_{,000 = $(}₃_{0,000) loss}

On January 1, 2018, Frontier Corporation Purchased for $474,000, Equipment