Answer:
loss of $18,000.
Explanation:
Disposal of asset occurs when the asset is sold. Fixed asset carry a cost and accumulated depreciation for life from purchase to the disposal date. At the time of disposal there might be a gain or loss on disposal. If the asset is sold below the NBV there is a loss on disposal and If the asset is sold over the NBV there is a profit on disposal
Net Value of Asset = Cost - Accumulated Depreciation
Net Value of Asset = $210,000 - $100,000 = $110,000
Net profit / loss on disposal = Cash Proceeds - Net book value
Net profit / loss on disposal = $92,000 - $110,000
Net loss on disposal = $18,000
