Chapter $11$ Practice Assignment

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Part $2$ of $3$

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Problem $11-44($LO $11-3,$ LO $11-4)($Algo$)$

$[$The following information applies to the questions displayed below.$]$

Moran owns a building he bought during year $0$ for $$230,000.$ He sold the building in year $6.$ During the time he held the building, he depreciated it by $$40,000.$

What are the amount and character of the gain or loss Moran will recognize on the sale in each of the following alternative situations?

Note: Loss amounts should be indicated by a minus sign. Enter NA if a situation is not applicable. Leave no answers blank. Enter zero if applicable.

References

Problem $11-44$ Part$-$b $($Algo$)$

b$.$ Moran received $$246,000.$

$\backslash$table$[[$Description$,$Amount$],[$Total Gain or $($Loss$)$ Recognized,$],[$Unrecaptured $$1250$ gain $($and $1231$ gain$),],[$Remaining $1231$ gain or $($loss$),]]$