Hello, please just answer the boxes in RED for a, b and c. Please make the answers clear. big thumbs up. thank you
Hauswirth Corporation sold (or exchanged) a warehouse in year 0. Hauswirth bought the warehouse several years ago for $102,000, and it has claimed $33,800 of depreciation expense against the building. (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.) Required: a. Assuming that Hauswirth receives $80,500 in cash for the warehouse, compute the amount and character of Hauswirth'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 $80,500, 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 receives $27,500 in cash in year and a $88,500 note receivable that is payable in year 1, compute the amount and character of Hauswirth's gain or loss in year and in year 1, Answer is not complete. Complete this question by entering your answers in the tabs below. Rega Reqb Regc Assuming that Hauswirth receives $80,500 in cash for the warehouse, compute the amount and character of Hauswirth's recognized gain or loss on the sale. $ 80,500 Recognized Gain (Los) Character of Recognized Gain Los) Ordinary Gain/(Loss) $1231 gain (los) Is 12,300 X 12,300 Han Reqb> Hauswirth Corporation sold (or exchanged) a warehouse in year 0. Hauswirth bought the warehouse several years ago for $102,000, and it has claimed $33,800 of depreciation expense against the building. (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.) Required: a. Assuming that Hauswirth receives $80,500 in cash for the warehouse, compute the amount and character of Hauswirth'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 $80,500. 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 receives $27,500 in cash in year and a $88,500 note receivable that is payable in year 1, compute the amount and character of Hauswirth's gain or loss in year and in year 1. Answer is not complete. Complete this question by entering your answers in the tabs below. Reda Reqb Reg Assuming that Hauswirth exchanges the warehouse in a like-kind exchange for some land with a fair market value of $80,500, compute Hauswirth's realized gain or loss, recognized gain or loss, deferred gain or loss, and basis in the new land. $ $ Gain realized Gain recognized Deferred gain Adjusted basis in new property 12,300 B0,500 OX 68,200 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 $80,500, 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 receives $27,500 in cash in year and a $88,500 note receivable that is payable in year 1, compute the amount and character of Hauswirth's gain or loss in year and in year 1. Answer is not complete. Complete this question by entering your answers in the tabs below. Rega Regb Reqc Assuming that Hauswirth receives $27,500 in cash in year and a $88,500 note receivable that is payable in year 1, compute the amount and character of Hauswirth's gain or loss in year and in year 1. Character S $ IS $ Description Amount Realized Original Basis Accumulated Depreciation Adjustod Basis Gain (Loss) Realized Depreciation Recapture Gain Eligible for installment Reporting Gross Profit Percentage Installment Gain (Loss) in year o Installment Gain (Loss) in year 1 IS Amount 116.000 102.000 33,800 68,200 47,800 33,800 14,000 12.06% 3,317 10,673 $ $ $ $
