Mazaya Company has decided to sell one of its old machines on June 30, 2011 The machine was purchased for RO:120,000 on January 1, 20o07, and was depreciated on a straight-line basis for 10 years with no residual value f the machine was sold for R.O 33.000, what was the amount of the gain or loss recorded at thetime of the sale? Select one O a RO 69,00. b. RO 27.000. O CRO33,00 O d RO 81,000.
Mazaya Company has decided to sell one of its old machines on June 30, 2011 The machine was purchased for RO:120,000 on January 1, 20o07, and was depreciated on a straight-line basis for 10 years with no residual value f the machine was sold for R.O 33.000, what was the amount of the gain or loss recorded at thetime of the sale? Select one O a RO 69,00. b. RO 27.000. O CRO33,00 O d RO 81,000.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter7: Operating Assets
Section: Chapter Questions
Problem 11MCQ
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