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What gain or loss will be reported on the statement

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Question - On 1 July 2020, James Company sold a machine for $10 000 that it had used for several years. The machine cost $22 000 and had accumulated depreciation of $9000 at the time of sale. What gain or loss will be reported on the statement of comprehensive income for the sale of the machine?

a. Gain of $10 000

b. Loss of $13 000

c. Loss of $3000

d. Gain of $3000

Reference no: EM132513990

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