On December 31, Strike Company Traded in One of Its

question 73

Multiple Choice

On December 31, Strike Company traded in one of its batting cages for another one that has a cost of $500,000. Strike receives a trade-in allowance of $11,000. The old equipment had an initial cost of $215,000 and has accumulated depreciation of $185,000. Depreciation has been recorded up to the end of the year. The difference will be paid in cash. What is the amount of the gain or loss on this transaction?

• A) loss of $11,000
• B) gain of $11,000
• C) loss of $19,000
• D) no loss or gain will be recorded

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Definitions:

Reactivity

The degree to which a substance can undergo a chemical reaction with itself or other substances.

Brain's Electrical Activity

The sum of the electrical signals from neurons within the brain, commonly measured using techniques such as electroencephalography (EEG).

Semi-structured Interview

A flexible interview format where certain questions are pre-determined, but the interviewer can explore topics in more depth as needed.