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Moab Incorporated menufactures and distributes high$-$tech biking godgets. It hos decided to streamline some of its

operations so that it will be able to be more productive and efficlent. Because of this declelon it has entered into several

tronsections during the ycer.

a$.$ Mosb incorporated sold a machine that it used to make computerlzed gadgete for $$31,900$ cash. It originally bought the

machine for $$22,200$ three years ago and has taken $$8,000$ in depreciation.

b$.$ Moab incorporated held stock in ABC Corporation, which had a value of $$27,000$ at the beginning of the year. That

same stock had a value of $530,230$ at the end of the year

fair market velue of $$67,000$ and $$23,000$ in cash. It originally bought the office building severn years ago for $$77,000$

ond hes teken $$15,000$ in depreciation.

e$.$ Moeb incorporated sold some land held for Investment for $$35,000.$ It orlginelly bought the lend for $$40,800$ two years

ogo.

f$.$ Mosb incorporsted sold another mochine tor a note pevable in tour annual inctallmente of S$19,500.$ The first poyment

was recelved th the current year. It originally bought the mechine two yeare ago tor $$62,000$ and hes claimed $$10,500$

In depreciation expense sgeinst the machine.

g$.$ Mosb incorporated sold stock it held for eight years for $$4,250.$ It originally purchased the stock for $$2,850.$

h$.$ Moab incorporated sold another machine for $$10,300.$ It originally purchased this machine six months ago for $$11,000$

and has claimed $$530$ in depreciation expense against the assot.

Required:

whether the gein$/$lose recognized will be $$12\%1,$ copital, or ordinery.

From the recognized gains$/$losses determined in part $1,$ determine the net $51231$ gain$/$loss$,$ the net ordinary gain$/$loss$,$ and the net

capital gain$/$loss Moab will recognize on its tax return. Moab Incorporated also has $$5,000$ of nonrecaptured net $51231$ losses from

previcus years

Complete this question by entering your answers in the tabs below.

Determine the gain$/$loss realized and recognized in the current year for each of these events provided above. Also determine whether the

gain$/$loss recognized will be $$1231,$ capital, or ordinary.

Note: DD not round intermediate computations. LOss amounts should be indicated by a minus sign.

Complete this question by entering your answers in the tabs below.

From the recognized gains$/$losses determined in part $1,$ determine the net $$1231$ qain$/$loss$,$ the nat ordinary gain$/$loss$,$ and

the net capital gain$/$loes Moab will recognize on its tax return. Moab Incorporated also has $$5,000$ of nonrecaptured nct $51231$

losses from previous years.

Note: Do not round intermediate computations. Loss amounts should be indicated by a minus sign.

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