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19 June, 16:39

Suppose Ms. Smith sells her 2018 Honda Fit next year. The original cost of the vehicle was $10,000. During the time she has owned the car she has taken $3,000 dollars of deprecation on it. Ms. Williams sells the car for $9,000. What is result of the transaction

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  1. 19 June, 20:23
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    An ordinary gain of $2,000

    Step-by-step explanation:

    Cost of the vehicle (C) = $10,000

    Depreciation (D) = $3,000

    Selling price (S) = $9,000

    Worth of the vehicle = Cost price - depreciation

    =$10,000-3,000

    =$7,000

    Net worth = selling price - worth of the vehicle

    =$9,000-$7,000

    =$2,000
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