On January 1, 2023, Pinkley Company sells office furniture f…
On January 1, 2023, Pinkley Company sells office furniture for $150,000 cash. The office furniture originally cost $375,000 when purchased on January 1, 2016. Depreciation is recorded by the straight-line method over 10 years with a salvage value of $37,500. What gain should be recognized on the sale?
On January 1, 2023, Pinkley Company sells office furniture f…
Questions
On Jаnuаry 1, 2023, Pinkley Cоmpаny sells оffice furniture fоr $150,000 cash. The office furniture originally cost $375,000 when purchased on January 1, 2016. Depreciation is recorded by the straight-line method over 10 years with a salvage value of $37,500. What gain should be recognized on the sale?
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