Indicate Whether Each of the Following Transactions Would Result in a Gain,a

question 107

Short Answer

Indicate whether each of the following transactions would result in a gain,a loss,or neither one.
A = Gain
B = Loss
C = Neither a gain nor a loss
______ 2.Bought a machine 9 years ago for $200,000 and over the years recorded $175,000 of depreciation.Sold the machine for $35,000.
______ 4.Recorded $70,000 of depreciation on an asset that originally cost $100,000 and then sold it for a $40,000 note receivable.
______ 5.Bought a machine 5 years ago for $200,000 and over the years recorded $180,000 of depreciation.Sold the machine for $17,000.

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Definitions:

Illness

A disease or period of sickness affecting the body or mind.

Aetiology

The study of the causes or origins of diseases or conditions, looking into the various factors that contribute to their development.

Diagnosis

The identification of the nature of an illness or other problem by examination of the symptoms.

Aetiology

The study of the causes or origins of diseases or conditions, exploring how and why they occur.