On december 31 burgess inc has decided to sell a piece of, Financial Accounting

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On december 31 burgess inc has decided to sell a piece of

On December 31, Burgess, Inc. has decided to sell a piece of equipment. The initial cost of the equipment was $180,000 with an accumulated depreciation of $176,000. Depreciation has been taken up to the end of the year. The company found a company that is willing to buy the equipment for $6,500. What is the amount of the gain or loss on this transaction?

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Financial Accounting: On december 31 burgess inc has decided to sell a piece of

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