Answer:
Gain/loss= 0
Explanation:
Giving the following information:
On December 31, Strike Company sold one of its batting cages for $219,597. The equipment had an original cost of $258,350 and has accumulated depreciation of $38,753.
First, we need to determine the book value:
Book value= original cost - accumulated depreciation
Book value= 258,350 - 38,753= 219,597
The gain or loss from selling an asset depends on selling it for a higher or lower value than the book value.
Gail/loss= 219,597 - 219,597
Gain/loss= 0
