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How much is a gain or a loss

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Reference no: EM133155681

Question - Footloose Limited acquired furniture and fittings on 1 July 2020 for $48832. The estimated useful life of the furniture and fittings at acquisition date was 5 years and the residual value was $0. Footloose Limited uses a straight line method for depreciation calculations. The company sold all the furniture and fittings on 1 January 2022 for $53146. How much is a gain or a loss?  

A. 23847

B. 14080

C. 18964

D. 4314

Reference no: EM133155681

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