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Al Bati sold a machine to a dealer for $50,400. Al Bati bought the machine...

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Question

Accounting

Al Bati sold a machine to a dealer for $50,400. Al Bati bought the machine for $54,600 several years ago and has claimed $12,300 of depreciation expense. How much is the amount and what is the character of Al Bati's gain or loss?

Multiple Choice

  • None of the choices are correct.

  • $8,100 capital gain.

  • $4,200 1231 loss.

  • $8,100 ordinary gain.

  • $8,100 1231 loss.

Answer & Explanation Solved by verified expert
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