company n sells a bullding for $600,000. the book value of the buidling is 1...

70.2K

Verified Solution

Question

Accounting

company n sells a bullding for $600,000. the book value of the buidling is 1 million. the accumulated depreaciation on the building is $300,000. what is the gain or loss recored on the building sale? if u compute gain submit positive answer if u compute loss submit a negative value

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