Michael sold a machine for $3,500 on August 15th of the current year. The machine was purchased for $4,200. Michael had taken $1,500 of depreciation deductions on the machine through the date of the sale. What is Michael's gain or loss realized on the machine? a. $1,200 loss b. $800 gain c. $1,000 gain d. $700 loss e. None of these

I want the correct answer accounting and question

Need answer please

If you give me wrong answer, I will give you unhelpful rate

Abc

What is jorge's gain or loss realized on the machine? General accounting

What is Jorge's gain or loss realized on the machine on general accounting question?

In year 0, Longworth Partnership purchased a machine for $57,250 to use in its business. In year 3, Longworth sold the machine for $44,300. Between the date of the purchase and the date of the sale, Longworth depreciated the machine by $24,900. Note: Loss amounts should be indicated by a minus sign. Leave no answers blank. Enter zero if applicable. a. What are the amount and character of the gain or loss Longworth will recognize on the sale? Description Total Gain or (Loss) Recognized Character of Recognized Gain or (Loss): Ordinary Gain or (Loss) $1231 gain or (loss) Amount

In year 0, Longworth Partnership purchased a machine for $56,000 to use in its business. In year 3, Longworth sold the machine for $36,700. Between the date of the purchase and the date of the sale, Longworth depreciated the machine by $29,800. Note: Loss amounts should be indicated by a minus sign. Leave no answers blank. Enter zero if applicable. b. What are the amount and character of the gain or loss Longworth will recognize on the sale if the sale proceeds are increased to $61,250? Description Total Gain or (Loss) Recognized Character of Recognized Gain or (Loss) Ordinary Gain or (Loss) $1231 gain or (loss) Amount

I want to correct answer