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The JOhn Company purchased a machine on Nov 1, 2002, for 148,000. At the time of acquistion, the machine was estimated to have a useful life of ten years and an estimated salvage value of $4,000. JOhn has recorded monthly depreciation usiing the straight line method. On July 1,2011, the machine was sold for 13,000. What should be the loss recognized from the sale of the machine?

A) 4,000
B) 5,000
C) 10,200
D) 13,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9410553

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