Bull Run Sold a Computer for $1,200 on November 10

question 106

Essay

Bull Run sold a computer for $1,200 on November 10 ^th of the current year. The computer was purchased for $2,800. Bull Run had taken $1,000 of depreciation deductions. What is Bull Run's gain or loss realized on the computer?

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Definitions:

Net Discounted Cash Flow

A financial metric that estimates the value of an investment or project by discounting future cash flows to their present value and subtracting initial costs.

Revenues

The sum total of profits from the sales of key products or services that constitute a corporation's main business.

Expenses

Outflows or the consumption of assets resulting from the operations of a business, leading to a decrease in equity.

Average Rate

A rate that represents the mean value of a set of rates, commonly used in the calculation of interest, speed, or other variables.