{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T03:49:58-04:00", "answer_date": "2024-06-28 03:49:58", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4235494", "url": "\/study-help\/questions\/2-erika-corporation-sold-an-office-building-that-it-used-4235494", "question_creation_date_js": "2024-06-28T03:49:58-04:00", "question_creation_date": "Jun 28, 2024 03:49 AM", "meta_title": "[Solved] 2. Erika Corporation sold an office build | SolutionInn", "meta_description": "Answer of - 2. Erika Corporation sold an office building that it used in its business for $600,000. Erika bought the building ten | SolutionInn", "meta_keywords": "2,erika,corporation,sold,office,building,business,$600,000,bought,ten,years,ago", "question_title_h1": "2. Erika Corporation sold an office building that it used in its business for $600,000. Erika bought the building ten years ago for $400,000 and", "question_title": "2. Erika Corporation sold an office building that it used in its", "question_title_for_js_snippet": "2 Erika Corporation sold an office building that it used in its business for $600,000 Erika bought the building ten years ago for $400,000 and has claimed $100,000 of depreciation expense What is the amount and character of Erika's gain or loss A $20,000 ordinary $280,000 section 1231 gain B $300,000 capital gain C $300,000 ordinary gain D $100,000 ordinary and $200,000 section 1231 gain E None of the choices are correct", "question_description": "\"image
\"image<\/div><\/div><\/div> 2. Erika Corporation sold an office building that it used in its business for $600,000. Erika bought the building ten years ago for $400,000 and has claimed $100,000 of depreciation expense. What is the amount and character of Erika's gain or loss? A. $20,000 ordinary $280,000 section 1231 gain B. $300,000 capital gain C. $300,000 ordinary gain D. $100,000 ordinary and $200,000 section 1231 gain E. None of the choices are correct", "transcribed_text": "", "related_book": { "title": "Global Strategy", "isbn": "0357512367, 978-0357512364", "edition": "5th Edition", "authors": "Mike W. Peng", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/649592eaa157d_32303.jpg", "uri": "\/textbooks\/global-strategy-5th-edition-9780357512364", "see_more_uri": "" }, "free_related_book": { "isbn": "124048335X", "uri": "\/textbooks\/the-medical-liability-insurance-crisis-a-review-of-the-situation-in-pennsylvania-1st-edition-978-1240483358-259111", "name": "The Medical Liability Insurance Crisis A Review Of The Situation In Pennsylvania", "edition": "1st Edition" }, "question_posted": "2024-06-28 03:49:58", "see_more_questions_link": "\/study-help\/questions\/business-banking-2021-September-12", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/employ-a-graphical-technique-to-present-the-ages-age-of-247413", "description": "Employ a graphical technique to present the ages (AGE) of the respondents in the 2010 survey. Describe your results.", "stars": 3 }, { "url": "\/study-help\/psychology\/exude-confidence-not-arrogance-1980761", "description": "Exude confidence, not arrogance.", "stars": 3 }, { "url": "\/blue-jeans-shop-had-net-retail-sales-of-390000-during", "description": "Blue Jeans Shop had net retail sales of $390,000 during the current year. The following additional information was obtained from the companys accounting records: Using the retail method, estimate the...", "stars": 3 }, { "url": "\/study-help\/questions\/part-a-best-less-company-started-first-year-operations-9842923", "description": "Part A: Best & Less Company started first year operations on January 1, 2018. All transactions were on credit. At the year end, December 31, 2018, the company has accounts receivable balance of...", "stars": 3 }, { "url": "\/study-help\/questions\/p-2-on-9-1-2-0-6560608", "description": "P 2 . On 9 \/ 1 \/ 2 0 2 3 , Coyote Company signed a lease contract for building for 3 6 months & paid $ 2 4 , 0 0 0 for one year from 9 1 ? 2 0 2 3 through 8 3 1 ? 2 0 2 4 . Instructions: Prepare any...", "stars": 3 }, { "url": "\/study-help\/particle-physics\/figure-p331-shows-eight-point-sources-of-light-ah-and-1374717", "description": "Figure P33.1 shows eight point sources of light, \\(a-h\\), and two detectors, A and B. The point sources are evenly spaced, with \\(0.10 \\mathrm{~m}\\) between adjacent sources, and detector A shields...", "stars": 3 }, { "url": "\/study-help\/schaum-s-outline-of-electric-circuits\/find-the-maximum-energy-e-stored-in-the-inductor-1229127", "description": "Find the maximum energy (E) stored in the inductor of Example 10.17 (a) and show that it is greater than the sum of the maximum stored energies (E 1 and E 2 ) when each source is applied alone....", "stars": 3 }, { "url": "\/study-help\/mechanical-vibration-analysis-\/consider-the-system-shown-in-fig-954-in-which-a-1405745", "description": "Consider the system shown in Fig. 9.54 in which a harmonic force acts on the mass \\(m\\). Derive the condition under which the steady-state displacement of mass \\(m\\) will be zero. Disc, mass M 000 R...", "stars": 3 }, { "url": "\/study-help\/modern-physics\/verify-the-color-su3-representations-for-combinations-of-three-or-1352289", "description": "Verify the color SU(3) representations for combinations of three or fewer quarks and antiquarks given in Eq. (19.28). Data from Eq. 19.28 qq=303=108 qq 3 3 603, 999 3 3 3 = 36315, qqq 3 3 3 1088 10,", "stars": 3 }, { "url": "\/study-help\/particle-physics\/in-about-the-years-214212-bc-the-greek-philosopher-and-1374604", "description": "In about the years 214-212 BC, the Greek philosopher and scientist Archimedes is said to have repelled a Roman attack with a \"death-ray\" converging mirror, using sunlight to set the approaching fleet...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/looking-for-some-help-on-a-case-jamestown-electric-4235493", "next": "\/study-help\/questions\/weaver-companys-predetermined-overhead-rate-is-2000-per-direct-labourhour-4235495" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "2. Erika Corporation sold an office building that it used in its", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/2-erika-corporation-sold-an-office-building-that-it-used-4235494" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } } }