Marquez purchased some equipment for $58,750 on August 15, 2018. He decided he did not need the equipment so he sold it on June 13, 2019 for $56,500. The equipment was subject to depreciation of $6,964 for 2018 and 2019. What gain or loss will Marquez recognize on the sale of the equipment? g

A gain of $4,714

Explanation:

When the amount received from the disposal of an asset is higher than the carrying value of the asset, the company makes a gain on disposal.

The carrying amount of an asset is the difference between the cost of the asset and the accumulated depreciation of the asset.

Carrying amount

= $58,750 -  $6,964

= $51,786

Gain/(loss) on disposal = $56,500 - $51,786

= $ 4,714

due to the changes the federal reserve is making the unused reserves will impact the economy by them facing inflation. inflation is definfed as the increase in pricing of a good or service but the decline of the value of money used for purchasing those items. when the economy has a high inflation rate, they are subject to money loss and hurt on the economy.

answer; communication channel;