69.7k views
2 votes
Wells Company's delivery truck, with a cost of $56,000 was destroyed by fire. At the time of the fire, the balance of the Accumulated Depreciation account amounted to $38,000. The company received $32,000 reimbursement from its insurance company. The gain or loss as a result of the fire was_________.(A) $24,000 loss.(B) $14,000 loss.(C) $24,000 gain.(D) $14,000 gain.

User Prgao
by
8.5k points

1 Answer

2 votes

Step-by-step explanation:

Is the answer C if not please explain

User Gennadiy Litvinyuk
by
8.0k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories