A company purchased a new machine on May 1, 2012 for $528,000. At the time of acquisition, the machine was estimated to have a useful life of ten years and an estimated salvage value of $24,000. The company has recorded monthly depreciation using the straight-line method. On March 1, 2021, the machine was sold for $82,000. What should be the gain/loss recognized from the sale of the machine?

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A: Depreciation: Decreasing value of Assets over its useful life period.

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A: “Since you have asked multiple sub-parts, we will solve the first three sub-part for you. If you…

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A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

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A: Total Sum-of-the-years'-digits = 1+2+3+4+5 = 15 years Total sum of life remaining at the end of 2019…

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A: Depreciation means the loss in value of assets because of usage of assets , passage of time or…

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A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets…

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A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets…

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A: Depreciation: It refers to a gradual decrease in the fixed asset’s value because of obsolescence,…

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A:

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A: "Hey, since multiple sub parts are posted, we will answer the first three questions alone. If you…

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A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets…

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A: The right answer is option a. $15,000

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A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets…

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A: Calculate the loss recognized from the sale of machine:

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.