Business, 11.09.2019 03:10 elissadiaz15
On january 1, 2016, jacob inc. purchased a commercial truck for $48,000 and uses the straight-line depreciation method. the truck has a useful life of eight years and an estimated residual value of $8,000. on december 31, 2018, jacob inc. sold the truck for $30,000. what amount of gain or loss should jacob inc. record on december 31, 2018?
a. loss, $3,000.
b. loss, $18,000.
c. gain, $22,000.
d. gain, $5,000.
Answers: 3
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On january 1, 2016, jacob inc. purchased a commercial truck for $48,000 and uses the straight-line d...
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