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Business, 07.03.2021 04:10 TakeNotes

An asset was sold during the year. The cost of the asset was $64,500. The asset was depreciated for four years, using the straight-line method at 10% per annum. The proceeds from the sale of this asset was $38,700. What was the gain or loss on the asset, if any?

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An asset was sold during the year. The cost of the asset was $64,500. The asset was depreciated for...

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