Xyz Company Purchased A New Machine On January 1 2023 For 149 800 The Machine Ha
XYZ Company purchased a new machine on January 1, 2023 for $149,800. The
machine had a 7-year life and a $5,600 salvage value assigned to it. The
machine is being depreciated using the sum-of-the-years’-digits method.
XYZ Company sold the machine on December 31, 2025 for $20,000.
Calculate the amount of the loss on the sale of the machine recorded by
XYZ Company.
I got 132050 is that correct?
