2. if a plant asset costs $6,000.00, has accumulated depreciation of $5,000.00, and is sold for $1,200.00, the gain or loss on disposal is a (a) $1,200.00 gain. (b) $5,000.00 loss. (c) $200.00 gain. (d) $200.00 loss.

(C) $200.00 gain

Explanation:

The gain or loss on sale of fixed asset is calculated as follows:

Gain\Loss = Sale Price - (Cost of asset - Accumulated Depreciation)

If the value is positive it is gain and if the value is negative it is loss.

Here, we are provided that cost of asset = $6,000

Accumulated Depreciation = $5,000

And selling Price = $1,200

Thus, Gain/Loss = $1,200 - ($6,000 - $5,000)

= $1,200 - $1,000 = $200

As the value is positive that is selling price is more than carrying value of the asset there is a gain of $200

Thus, the correct option is

(C) $200.00 gain

hi : ) i found this so i hope this !

"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"

answer; is the sum of all individual demands curves;