What is the gain/loss on the sale of equipment, Accounting Basics

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What is the gain/loss on the sale of equipment

On December 31, 2013, Stable Company sold a piece of equipment that was purchased on January 1, 2008. The equipment originally cost $820,000 and has an estimated useful life of eight years. Stable uses the straight-line method of depreciation. What is the gain/loss on the sale of equipment that Stable will recognize if the equipment was sold for $230,000?

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Accounting Basics: What is the gain/loss on the sale of equipment

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Accounting Basics: What is the gain/loss on the sale of equipment

Reference No:- TGS047891

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Analyze causes of financial crisis and behavior of lenders

Q : How much are the monthly payments

Q : What were the mixed costs for july

Q : What is profit maximizing price and quantity of output

Q : What is the gain/loss on the sale of equipment

Q : Explain demand curve having positive or negative slope

Q : Prepare a statement of partners'' equity

Q : What is consolidated net income for phoenix and sedona

Q : Calculate and graph marginal cost if workers get raise

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What is the gain/loss on the sale of equipment

Reference No:- TGS047891

Recent Questions Asked Accounting Basics

Q : Analyze causes of financial crisis and behavior of lenders

Q : How much are the monthly payments

Q : What were the mixed costs for july

Q : What is profit maximizing price and quantity of output

Q : What is the gain/loss on the sale of equipment

Q : Explain demand curve having positive or negative slope

Q : Prepare a statement of partners'' equity

Q : What is consolidated net income for phoenix and sedona

Q : Calculate and graph marginal cost if workers get raise

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