a-company-sells-a-machine-for-10000-the-machines-original-cost-was-15000-and-it-

Question

A company sells a machine for $10,000. The machine's original cost was $15,000, and it has accumulated depreciation of $7,000. What is the gain or loss on the sale?

Accepted Answer

Gain of $2,000

Answer

Gain of $3,000

Answer

Loss of $2,000

Answer

No gain or loss

A company sells a machine for \$10,000. The machine's original cost was \$15,000, and it has accumulated depreciation of \$7,000. What is the gain or loss on the sale?