On January 1, 20x0, Olso Inc. acquired equipment at a cost of $49051. The equipment...
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Accounting
On January 1, 20x0, Olso Inc. acquired equipment at a cost of $49051. The equipment has a residual value of $6423 and an expected useful life of 16 years. Oslo uses straight-line depreciation. If Olso sold its equipment for $17788 on December 31, 20x7, how much (loss) gain on disposal would be recorded?
Select one:
a. $-22176
b. $-6738
c. $-16847
d. $-9949
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