Avalon Inc Buys Equipment Costing 150000 In 2008 And Sells

Avalon, Inc., buys equipment costing $150,000 in 2008, and sells it in 2011. Avalon deducts $94,000 in depreciation on the equipment before the sale. What is the character of the gain or loss on the sale of the equipment if the selling price is
a. $90,000?
b. $155,000?
c. $40,000?

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