On May 1, 2017, Pinkley Company sells office furniture for €80,000 cash.
Posted: January 10th, 2022
On May 1, 2017, Pinkley Company sells office furniture for €80,000 cash. The office furniture originally cost €200,000 when purchased on January 1, 2010. Depreciation is recorded by the straight-line method over 10 years with a residual value of €20,000. What gain should be recognized on the sale?
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