Joan bought a business machine for $15,000 on january 1, 2013, and later sold the machine for $12,800 when the total allowable depreciation is $8,500. the depreciation actually taken on the tax returns totaled $8,000. joan must recognize a gain or loss ofa. no gain or lossb. $6,800c. ($3,200)d. $6,300

The correct answer is option D.

Explanation:

Joan bought a business machine for $15,000.

She sold it for $12,800.

The total allowable depreciation is $8,500.

The depreciation actually taken on the tax returns totaled $8,000.

The book value of machine

= Original value - Allowable depreciation

= $15,000 - $8,500

= $6,500

Gain to Joan

= Selling price of machine - Book value of machine

= $12,800 - $6,500

= $6,300

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explanation: doctrine of respondeat superior is a legal doctrine that is commonly used in tort. this principle makes an employer or principal legally responsible for the wrongful acts done by an employee or agent, if such acts occur within the scope of the employment or agency.