a-company-exchanges-an-old-computer-with-a-net-book-value-of-2000-for-a-new-comp

Question

A company exchanges an old computer with a net book value of $2,000 for a new computer. The trade-in value offered is $1,500. Calculate the gain or loss on the exchange.

Accepted Answer

Loss of $500

Answer

Loss of $1,500

Answer

Gain of $2,000

Answer

Gain of $500

A company exchanges an old computer with a net book value of \$2,000 for a new computer. The trade-in value offered is \$1,500. Calculate the gain or loss on the exchange.