Respuesta :
The company should record a loss of $5,000 as on December 31, considering its book value and sale price of the asset.
Calculation:
Book value of asset on 31st December = $19,000
Sale price of asset = $14,000
Loss on sale = $19,000-$14,000 = $5,000
A resource having economic worth that a person, company, or country possesses or administers with the hope that it might someday be beneficial is alluded to as an asset. The balance sheet of a company lists assets. They are divided into four categories tangible, financial, fixed, and current. They are acquired or created in order to raise a stock profit or improve the business operations of the company.
Whether it's industrial equipment or a property, an asset could be viewed of as anything that, in the future, can produce income stream, decrease costs, or boost sales.
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