39 Identify each of Avery Corporation's following assets as an ordinary, capital, or 1231 asset a) Two years ago, Avery used its excess cash to purchase a piece of land as an investment b) Two years ago, Avery purchased land and a warehouse It uses these assets in its business c) Manufacturing machinery Avery purchased earlier this year d) Inventory Avery purchased 13 months ago that is ready to be shipped to a customer e) Office equipment Avery has used in its business for the past three years f) 1,000 shares of stock in Plaid Corporation that Avery purchased two years ago because it was a good investment g) Account receivable from a customer with terms 2 10, net 30 h) Machinery Avery held for three years and then sold at a loss of $10,000 3 39 Identify each of Avery Corporation's following assets as an ordinary, capital, or $1231 asset a) Two years ago, Avery used its excess cash to purchase a piece of land as an investment b) Two years ago, Avery purchased land and a warehouse It uses these assets in its business c) Manufacturing machinery Avery purchased earlier this year d) Inventory Avery purchased 13 months ago that is ready to be shipped to a customer e) Office equipment Avery has used in its business for the past three years f) 1,000 shares of stock in Plaid Corporation that Avery purchased two years ago because it was a good investment g) Account receivable from a customer with terms 2 10, net 30 h) Machinery Avery held for three years and then sold at a loss of $10,000

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39  Identify each of Avery Corporation's following assets as an ordinary, capital, or 1231 asset  a) Two years ago, Avery used its excess cash to purchase a piece of land as an investment  b) Two years ago, Avery purchased land and a warehouse  It uses these assets in its business  c) Manufacturing machinery Avery purchased earlier this year  d) Inventory Avery purchased 13 months ago that is ready to be shipped to a customer  e) Office equipment Avery has used in its business for the past three years  f) 1,000 shares of stock in Plaid Corporation that Avery purchased two years ago because it was a good investment  g) Account receivable from a customer with terms 2 10, net 30  h) Machinery Avery held for three years and then sold at a loss of $10,000  3 39  Identify each of Avery Corporation's following assets as an ordinary, capital, or $1231 asset  a) Two years ago, Avery used its excess cash to purchase a piece of land as an investment  b) Two years ago, Avery purchased land and a warehouse  It uses these assets in its business  c) Manufacturing machinery Avery purchased earlier this year  d) Inventory Avery purchased 13 months ago that is ready to be shipped to a customer  e) Office equipment Avery has used in its business for the past three years  f) 1,000 shares of stock in Plaid Corporation that Avery purchased two years ago because it was a good investment  g) Account receivable from a customer with terms 2 10, net 30   h) Machinery Avery held for three years and then sold at a loss of $10,000

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39. Identify each of Avery Corporation's following assets as an ordinary, capital, or 1231 asset. a) Two years ago, Avery used its excess cash to

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