Equipment that cost $500 000 and had accumulated depreciation of $300 000,was sold for $180 000.This results in a:

Name: Equipment that cost $500 000 and had accumulated depreciation of $300 000,was sold for $180 000.This results in a:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The book value of the equipment is $200,000 ($500,000 cost - $300,000 accumulated depreciation). Selling it for $180,000 results in a $20,000 loss ($200,000 book value - $180,000 sale price).

Equipment That Cost $500 000 and Had Accumulated Depreciation of $300