4. On June 2015, Wolverine Co. Sold a machine for \$ 230,000 that...

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# 4. On June 2015, Wolverine Co. Sold a machine for \$ 230,000 that...

4. On June 2015, Wolverine Co. Sold a machine for \$ 230,000 that was acquired three years earlier for \$ 420,000. The accumulated depreciation for this machine was \$ 216,000, and the original estimated salvage value was \$ 60,000. Wolverine uses the straight-line method of depreciation . How much gain or loss on the disposal should Wolverine record in 2015?
A. \$ 26,000 loss
B. \$ 26,000 gain
C. \$ 14,000 gain
D. \$ 34,000 loss

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## Step-by-step explanation

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