On 31 December 2013 a Printing Machine with a Cost

question 38

Multiple Choice

On 31 December 2013 a printing machine with a cost of $380 000 has accumulated depreciation written off of $140 000. If it is sold for $220 000 on 1 January 2014 what will be the net effect of the sale on the income statement?

• A) $20 000 profit
• B) $20 000 loss
• C) $160 000 loss
• D) $80 000 profit

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Definitions:

Streptococcus Pneumoniae

A type of bacteria that can cause various infections, including pneumonia, sinusitis, and meningitis.

Zinacef

A brand name for cefuroxime, a type of antibiotic used to treat a wide variety of bacterial infections.

Metric Equivalent

A value or measurement that corresponds to a traditional unit in the metric system of measurement.

Gram

A metric unit of mass equal to one thousandth of a kilogram.