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Vardeen Industries purchased equipment for\$100,000 on January 1, 2010 and immediately began using it in its operations. The equipment was estimated to have a useful life of 10 years, no salvage value, and was to be depreciated using the straight-line method. On January 1, 2014, the machine was sold for \$64,500.

What would be the amount of gain/loss that would be recorded on the date of the sale?

A

Loss of \$35,500

B

Loss of \$4,500

C

Gain of \$4,500

D

Gain of \$64,500

Accuracy 0%
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