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QUESTION 43 In 2021, Sariena, Inc. sold an apartment building for $275,000. Sariena paid $280,000 for the building in 2014 and from 2014-2021 it
QUESTION 43 In 2021, Sariena, Inc. sold an apartment building for $275,000. Sariena paid $280,000 for the building in 2014 and from 2014-2021 it deducted $40,000 for depreciation. The corporation recognizes a: $35,000 Section 1231 gain. $35,000 Section 1245 gain. $5,000 Section 1231 loss. $5,000 Section 1245 loss. $35,000 Section 1250 gain.
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Government and Not for Profit Accounting Concepts and Practices
Authors: Michael Granof, Saleha Khumawala, Thad Calabrese, Daniel Smith
7th edition
1118983270, 978-1119175025, 111917502X, 978-1119175001, 978-1118983270
