A company sold equipment for 55000 total accumulated


A company sold equipment for $55,000. Total accumulated depreciation at the time of the sale was $22,500 and a loss of $12,500 was recognized on the sale. What was the original cost of the asset?

  • $42,500
  • $32,500
  • $90,000
  • $67,500
  • $77,500

Solution Preview :

Prepared by a verified Expert
Accounting Basics: A company sold equipment for 55000 total accumulated
Reference No:- TGS01279548

Now Priced at $10 (50% Discount)

Recommended (96%)

Rated (4.8/5)