Use the following to answer questions
The company is in the process of closing its operations. It sold its
yearold Frontend loader for $ The loader originally
cost $$ and had an estimated useful life of years and an
estimated residual value of $ The company uses straight
line depreciation for all equipment.
$
Calculate the book value of the loader at
the end of the th year.
$
What was the gain or loss on the sale of the
loader at the end of the th year; if loss, put in front of your
answer
Assume instead the company had originally
estimated the Equipment had an estimated useful life of years
instead of years. What would be the gain or loss on the sale
of the loader at the end of the year if loss, put in front of
your answer
