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    derekkar's Avatar
    derekkar Posts: 1, Reputation: 1
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    #1

    Dec 17, 2010, 12:52 PM
    Depreciation Question
    Fred's, Inc. purchased machinery at a cost of $20,000 on January 1, 2009. The expected useful life is 5 years and the asset is expected to have salvage value of $1,000. Fred's depreciates its assets via the double-declining balance method.

    What is the firm's gain or loss if the machinery is sold for $10,000 on December 31, 2010?
    Just Looking's Avatar
    Just Looking Posts: 1,610, Reputation: 480
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    #2

    Dec 17, 2010, 01:30 PM

    Please read this announcement.

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