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Comprehensive Problem 11-69 (LO 11-1, LO 11-2, LO 11-3, LO 11-4, LO 11-5, LO 11-6) (Static) Hauswirth Corporation sold (or exchanged) a warehouse in year

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Comprehensive Problem 11-69 (LO 11-1, LO 11-2, LO 11-3, LO 11-4, LO 11-5, LO 11-6) (Static) Hauswirth Corporation sold (or exchanged) a warehouse in year 0 . Hauswirth bought the warehouse several years ago for $65,000. and it has claimed $23,000 of depreciation expense against the building. Required: a. Assuming that Hauswirth recelves $50,000 in cash for the warehouse, compute the amount and character of Houswirth's recognized gain or loss on the sale. b. Assuming that Hauswirth exchanges the warehouse in a like-kind exchange for some land with a fair market value of $50,000, compute Hauswirth's realized gain or loss, recognized gain or loss, deferred gain or loss, and basis in the new land. c. Assuming that Hauswirth recelves $20,000 in cash in year 0 and a $50,000 note recelvable that is payable in year 1 , compute the amount and character of Houswirth's gain or loss in year 0 and in year 1 . Complete this question by entering your answers in the tabs below. Assuming that Hauswirth recelves $50,000 in cash for the warchouse, cor/pute the amount and character of Hauswirth's recognized gain or loss on the sale. Note: Loss amounts should be indicated by a minus sign. Leave no answer blank, Enter zero if applicable. Round your final answers to the nearest whole dollar amount. Assuming that Hauswirth receives $20,000 in cash in year 0 and a $50,000 note receivable that is payable in year 1 , compute t amount and character of Hauswirth's gain or loss in year 0 and in year 1. Complete this question by entering your answers in the tabs below. Assuming that Hauswirth receives $50,000 in cash for the warehouse, compute the amount and character of Hauswirth's recognized gain or loss on the sale. Note: Loss amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable. Round your final answers to the nearest whole dollar amount. Assuming that Hauswirth receives $20,000 in cash in year 0 and a $50,000 note recelvable that is payable in year 1 , compute the amount and character of Hauswirth's gain or loss in year 0 and in year 1. Note: Round "Gross Profit Percentage" to 2 decimal places. Loss amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable. Round your final answers to the nearest whole dollar amount. Show less A

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