A Business Machine Purchased April 10,2014,for $98,000 Was Fully Depreciated

question 68

Essay

A business machine purchased April 10,2014,for $98,000 was fully depreciated in 2014 using § 179 immediate expensing.On August 15,2016,the machine was sold for $67,000.What is the amount and nature of the gain or loss from disposition of the machine?

---

Definitions:

Responsibilities

Duties or obligations that an individual or organization is required or expected to perform.

Decentralization

The distribution of decision-making powers and operational activities away from a central authoritative location or group.

Advantage

A condition or circumstance that puts one in a favorable or superior position.

Cost Driver

A cost driver is a factor that causes a change in the cost of an activity, influencing the cost of production and operation in both direct and indirect cost management.