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Compute the gain or loss on disposal of the asset

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Question - BE Company acquired office equipment on 1 January 2007 for $30,000 with an estimated useful life of 5 years and an estimated scrap value of $6,000. BE used the straight-line method and provided depreciation month by month. BE decided to sell the office equipment on 1 May 2011 for $5,000.

Required - Compute the gain or loss on disposal of the asset on 1 May 2011.

Reference no: EM133153780

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