Business
Business, 19.05.2020 18:06, jalalblal

An asset was acquired on October 1, 2021, for $116,000 with an estimated five-year life and $35,000 residual value. The company uses units-of-production depreciation and expects the asset to produce 30,000 units. Calculate the gain or loss if the asset was sold on March 31, 2024, for $72,000. Actual production was: 2021 = 1,000 units; 2022 = 9,000 units; 2023 = 10,000 units; 2024 = 2,000 units. Multiple Choice $31,400 gain. $28,000 gain. $15,400 gain. $9,000 gain.

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An asset was acquired on October 1, 2021, for $116,000 with an estimated five-year life and $35,000...

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