Business, 19.10.2019 01:20 bernardhenderso4459
White company acquires a new machine for $75,000 and uses it in white’s manufacturing operations. a few months after white places the machine in service, it discovers that the machine is not suitable for white’s business. white had fully expensed the machine in the year of acquisition using § 179. white sells the machine for $60,000 after it held the machine only for a total of 15 months. what was the tax status of the machine when it was disposed of and the amount of the gain or loss?
(a) an ordinary asset and $60,000 loss.
(b) a § 1231 asset and $60,000 gain
(c) an ordinary asset and $60,000 gain.
(d) a § 1231 asset and $60,000 loss.
(e) a capital asset and $60,000 gain.
Answers: 2
Business, 22.06.2019 14:50
Prepare beneish corporation's income statement and statement of stockholders' equity for year-end december 31, and its balance sheet as of december 31. there were no stock issuances or repurchases during the year. (do not use negative signs with your answers unless otherwise noted.)
Answers: 2
Business, 22.06.2019 22:10
Which of the following is usually not one of the top considerations in choosing a country for a facility location? a. availability of labor and labor productivityb. attitude of governmental unitsc. location of marketsd. zoning regulationse. exchange rates
Answers: 1
White company acquires a new machine for $75,000 and uses it in white’s manufacturing operations. a...
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