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Food to go delivery service disposed of one of their delivery cars after using it for two years. The records of the company provide the following information: Delivery car cost: 30,000 Accumulated depreciation 10,000 Calculate the gain or loss on the disposal of the car for each of the following independent situations:

a. Food to go sold the car to another company for 22,000
b. Food to go sold the car to another company for 17,000
c. The car was stolen from the parking lot and no insurance was carried or it for theft.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9947321

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