$1$

Required information

Problem $11\mathrm{.}41($LO $11-3,$ LO $11-4)($Static$)$

$($The following information apples to the questions displayed below$]$

In year $0,$ Longworth Partrership parchased a machine for $\backslash (\backslash$$ $40,000\backslash )$ to use in its business. In year $3,$ Longworth sold the machine for $\backslash (\backslash$$ $35,000\backslash ).$ Between the date of the purchase and the date of the sale, Longworth depreciated the machine by $\backslash$$$22,000.$

Note: Loss amounts should be indicated by a minus sign. Leove no answers blonk. Enter zero it applicable.

Problem $11-41$ Part$-$b $($Static$)$

b$.$ What are the amount and character of the gain or loss Longworth will recogrize on the sale if the sale proceeds are increased to $\backslash$$$45,000?1$

Required information

Problem $11\mathrm{.}41($LO $11-3,$ LO $11-4)($Static$)$

$($The following information apples to the questions displayed below$]$

In year $0,$ Longworth Partrership parchased a machine for $\backslash (\backslash$$ $40,000\backslash )$ to use in its business. In year $3,$ Longworth sold the machine for $\backslash (\backslash$$ $35,000\backslash ).$ Between the date of the purchase and the date of the sale, Longworth depreciated the machine by $\backslash$$$22,000.$

Note: Loss amounts should be indicated by a minus sign. Leove no answers blonk. Enter zero it applicable.

Problem $11-41$ Part$-$b $($Static$)$

b$.$ What are the amount and character of the gain or loss Longworth will recogrize on the sale if the sale proceeds are increased to $\backslash$$$45,000?$