A company sold equipment that originally cost $140,000 for $70,000 cash. The accumulated depreciation on the equipment was $70,000. The company should recognize a: a. $0 gain or loss. b. $35,000 gain. c. $35,000 loss. d. $70,000 loss. e. $70,000 gain.

Referring to PA7 where Kenzie Company purchased a 3-D printer for $450,000, consider how the purchase of the printer impacts not only depreciation expense each year but also the assets book value. What amount will be recorded as depreciation expense each year, and what will the book value be at the end of each year after depreciation is recorded?

A company sold a machine that originally cost $250,000 for $120,000 when accumulated depreciation on the machine was $100,000. The gain or loss recorded on the sale of this machine is:

An asset which costs $25,000 and has accumulated depreciation of $6,000 is sold for $11,000. What amount of gain or loss will be recognized when the asset is sold?   a. A gain of $14,000   b. A loss of $14,000   c. A gain of $8,000   d.  A loss of $8,000