Ngu owns equipment that cost $104,900 with accumulated depreciation of $71,600. Ngu asks $37,850 for...
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Accounting
Ngu owns equipment that cost $104,900 with accumulated depreciation of $71,600. Ngu asks $37,850 for the equipment but sells the equipment for $34,900. Compute the amount of gain or loss on the sale.
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$4,550 gain.
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$4,550 loss.
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$1,600 gain.
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$2,950 gain.
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$1,600 loss.
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