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Required information Problem 11-44 (LO 11-3, LO 11-4) (Algo) [The following information applies to the questions displayed below.) Moran owns a building he bought during
Required information Problem 11-44 (LO 11-3, LO 11-4) (Algo) [The following information applies to the questions displayed below.) Moran owns a building he bought during year 0 for $212,000. He sold the building in year 6. During the time he held the building, he depreciated it by $32,250. What are the amount and character of the gain or loss Moran will recognize on the sale in each of the following alternative situations? (Loss amounts should be indicated by a minus sign. Enter NA if a situation is not applicable. Leave no answer blank. Enter zero if applicable.) Problem 11-44 Part-b (Algo) b. Moran received $224,000. Description Amount Total Gain/(Loss) Recognized Remaining $1231 gain (loss) Help Required information Problem 11-44 (LO 11-3, LO 11-4) (Algo) [The following information applies to the questions displayed below.] Moran owns a building he bought during year 0 for $212,000. He sold the building in year 6. During the time he held the building, he depreciated it by $32,250. What are the amount and character of the gain or loss Moran will recognize on the sale in each of the following alternative situations? (Loss amounts should be indicated by a minus sign. Enter NA if a situation is not applicable. Leave no answer blank. Enter zero if applicable.) Problem 11-44 Part-c (Algo) c. Moran received $169,500. Description Total Gain/(Loss) Recognized Amount Remaining $1231 gain (loss)
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