On 30 June, Netball Unlimited has decided to sell one of its portable netball courts....
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On 30 June, Netball Unlimited has decided to sell one of its portable netball courts. The initial cost of the court was $225 000 with an accumulated depreciation of $185 000.
Depreciation has been taken up to the end of the year. Netball Unlimited found a company that is willing to buy the equipment for $45 000.
What is the amount of the gain or loss on this transaction?
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