A company was harvesting diseased trees in a remote British Columbia forest, treating them, and then selling them to woodworkers. The company had purchased 2,500 hectares of forest for $2,500,000, and expected to harvest 100 trees from each hectare. In their first year of operations they harvested 23,500 trees. In the second year, after harvesting 15,000 more trees they sold the property for $2,200,000. What was the gain or loss on the sale?Select answer from the options below$300,000 lossno gain or loss; they broke even$85,000 gain$85,000 loss

Hunter Sailing Company exchanged an old sailboat for a new one. The old sailboat had a cost of $210,000 and accumulated depreciation of $105,000. The new sailboat had an invoice price of $230,000. Hunter received a trade in allowance of $115,000 on the old sailboat, which meant the company paid $115,000 in addition to the old sailboat to acquire the new sailboat. If this transaction has commercial substance, what amount of gain or loss should be recorded on this exchange?Multiple Choice$115,000 gain$0 gain or loss$10,000 loss$105,000 loss$10,000 gain

An entity purchased property for $6 million on 1 July 20X3. The land element of the purchase was $1 million. The expected life of the building was 50 years and its residual value nil. On 30 June 20X5 the property was revalued to $7 million, of which the land element was $1.24 million and the buildings $5.76 million. On 30 June 20X7, the property was sold for $6.8 million. What is the gain on disposal of the property that would be reported in the statement of profit or loss for the year to 30 June 20X7? A Gain $40,000 B Loss $200,000 C Gain $1,000,000 D Gain $1,240,000

Kamya purchased an item for Rs 46,000 and sold it at a loss of 12 per cent. With that amount she purchased another item which he sold at a gain of 12%. What was her overall gain/loss? Loss of Rs 662.40 Profit of Rs 662.40 Loss of Rs 642.80 Profit of Rs 642.80

A trucking company sold its fleet of trucks for $55,500. The trucks originally cost $1,431,000 and had Accumulated Depreciation of $1,274,000 recorded through the date of disposal. What gain or loss did the trucking company record when it sold the fleet of trucks?Multiple ChoiceGain of $101,500.Gain of $55,500.Loss of $55,500.Loss of $101,500.

Every year, before festive season,a shopkeeper increases the price of the product by 30% and then introduces two successive discounts of 15% and 20% respectively.What is the percentage loss and percentage gain?14%15%14.3%16%