Bryce sells a piece of equipment used in his business for $100,000. He had purchased the equipment 2 years ago for $80,

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

Bryce sells a piece of equipment used in his business for $100,000. He had purchased the equipment 2 years ago for $80,

Post by answerhappygod »

Bryce sells a piece of equipment used in his business for$100,000. He had purchased the equipment 2 years ago for$80,000 and had accumulated depreciation of $30,000 prior to thesale. This was the only business property sold by Bryceduring the year. How much capital gain does Brycerecognize on the sale?
$20,000
None of the other answers is correct
$30,000
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top
Post Reply

Return to “Archived Questions & Answers”