contestada

Bateman Corporation sold an office building that it used in its business for $800,200. Bateman bought the building 10 years ago for $599,900 and has claimed $200,300 of depreciation expense. What is the amount and character of Bateman's gain or loss

Respuesta :

facundobuzzetti

Answer:

Gain= $400,600

Explanation:

First, we need to calculate the book value of the building:

Book value= purchase price - accumulated depreciation

Book value= 599,900 - 200,300

Book value= $399,600

If the selling price is higher than the book value, the company gain from the sale.

Gain/loss= selling price - book value

Gain/loss= 800,200 - 399,600

Gain= $400,600

Otras preguntas