Ngu Owns Equipment That Cost $93,500 with Accumulated Depreciation of $64,000.Ngu

question 109

Multiple Choice

Ngu owns equipment that cost $93,500 with accumulated depreciation of $64,000.Ngu asks $35,000 for the equipment but sells the equipment for $33,000.Compute the amount of gain or loss on the sale.

• A)$3,500 loss.
• B)$5,500 gain.
• C)$5,500 loss.
• D)$3,000 gain.
• E)$3,500 gain.

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Definitions:

Alkane

A saturated hydrocarbon with single bonds only, having the general molecular formula CnH2n+2, where n is the number of carbon atoms.

Molecular Formula

A notation showing the types and numbers of atoms in a molecule, without indicating their arrangement.

Ethyl

A functional group or moiety consisting of two carbon atoms and five hydrogen atoms (–C2H5), often derived from ethanol.

Dimethyldodecane

An organic compound structured as a dodecane backbone with two methyl groups attached, used in various chemical contexts.