A vehicle purchased for $75,000 has depreciated $35,039 as of Janurary 1 of this year....

80.2K

Verified Solution

Question

Accounting

A vehicle purchased for $75,000 has depreciated $35,039 as of Janurary 1 of this year. The vehicle is sold Januray 1 for for $41,932. What is the gain or loss on this sale? ( Indicate a loss with a-sign)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students