Difference between the book value and the selling price, Cost Accounting

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Difference between the book value and the selling price

Response to the following problem:

The Dugan Manufacturing Company bought an engine for $31,500. The engine had an estimated lifeof 20 years and a scrap value of $5,250. After 6 years, the company went out of business and sold theengine for $15,200. If the machine was depreciated by the double-declining-balance method, howmuch did the company lose on the sale (the difference between the book value and the selling price)?

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Cost Accounting: Difference between the book value and the selling price

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