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Question 6 On June 1, 2025, XYZ Company paid $435,000 to purchase some land, a building, and a piece of machinery. The market values of these assets on that date were: Land Building Machinery Market Value $ 99,000 $216,000 $135,000 Before the assets could be used, XYZ Company had to spend $16,000 to renovate the building and $11,000 to put the machinery in working order. The building was estimated to have a residual value of $8,200 and a life of 25 years. The building was to be depreciated using the straight-line method. On September 30, 2030, the building was sold for $125,000 cash. Calculate the amount of the loss recorded on the sale. Do not enter your answer with a minus sign in front of your number.

On June 1,2025,XYZ Company paid $435,000 to purchase some land, a building, and a piece of machinery. The market values of these assets on that date were: Before the assets could be used, XYZ Company had to spend $16,000 to renovate the building and $11,000 to put the machinery in working order. The building was estimated to have a residual value of $8,200 and a life of 25 years. The building was to be depreciated using the straight-line method. On September 30, 2030, the building was sold for $125,000 cash. Calculate the amount of the loss recorded on the sale. Do not enter your answer with a minus sign in front of your number

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