Business, 27.05.2021 18:00 trevorhenyan51
A company buys a fixed asset on January 1, 2012 for $20,000. The accumulated depreciation for three years is $12,000. What will be the book value of the asset on December 31, 2014? The asset is sold on December 31, 2014 for $10,000. Will the company make a profit from this disposal?
The book value of the asset on December 31, 2014 is $ (Blank 1) . The company will make a (Blank 2).
Blank 1-
8,000
5,000
12,000
Blank 2-
loss of $2,000
profit of $2,000
profit of $8,000
Answers: 1
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A company buys a fixed asset on January 1, 2012 for $20,000. The accumulated depreciation for three...
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