Solution-What was the gain or loss on the asset

What was the gain or loss on the asset

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Question - An asset was sold during the year. The cost of the asset was $64,500. The asset was depreciated for four years, using the straight-line method at 10% per annum. The proceeds from the sale of this asset was $38,700. What was the gain or loss on the asset, if any?

Reference no: EM133154441

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What was the gain or loss on the asset

Reference no: EM133154441

Reference no: EM133154441

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