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What should be the loss or gain recognized

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Reference no: EM133010190

Question - The Suvari Company purchased a machine on Janary 1, 2013, for $148,000. At the time of acquisition, the machine was estimated to have a useful life of 10 years and a salvage value of $4,000. Suvari recorded annual depreciation using the straight-line method. On July 1, 2017, the machine was sold for $84,000. What should be the loss or gain recognized from the sale of the machine?

a. $800 gain

b. $8,000 gain

c. $4,800 gain

d. $12,000 gain

Reference no: EM133010190

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