A company bought a machine on 1 October 1996 for $52 000. The machine had an expected life of eight years and an estimated residual value of $4 000. On 31 March 2001, the machine was sold for $35 000. The company's fiscal year end is 31 December. The company uses the straight-line method for depreciation and it charges a full year's depreciation in the year of purchase and none in the year of sale. What is the profit or loss on disposal of the machine?

A.Loss $13 000 B.Profit $7 000 C.Profit $10 000 D.Profit $13 000

时间:2023-10-05 12:37:23

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