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Required information [ The following information applies to the questions displayed below. ] Moab Incorporated manufactures and distributes high - tech biking gadgets. It has

Required information
[The following information applies to the questions displayed below.]
Moab Incorporated manufactures and distributes high-tech biking gadgets. It has decided to streamline some of its
operations so that it will be able to be more productive and efficient. Because of this decision it has entered into several
transactions during the year.
a. Moab Incorporated sold a machine that it used to make computerized gadgets for $27,300 cash. It originally bought the
machine for $19,200 three years ago and has taken $8,000 in depreciation.
b. Moab Incorporated held stock in ABC Corporation, which had a value of $12,000 at the beginning of the year. That
same stock had a value of $15,230 at the end of the year.
c. Moab Incorporated sold some of its inventory for $7,000 cash. This inventory had a basis of $5,000.
d. Moab Incorporated disposed of an office building with a fair market value of $75,000 for another office building with a
fair market value of $55,000 and $20,000 in cash. It originally bought the office building seven years ago for $62,000
and has taken $15,000 in depreciation.
e. Moab Incorporated sold some land held for investment for $28,000. It originally bought the land for $32,000 two years
ago.
f. Moab Incorporated sold another machine for a note payable in four annual installments of $12,000. The first payment
was received in the current year. It originally bought the machine two years ago for $32,000 and has claimed $9,000 in
depreciation expense against the machine.
g. Moab Incorporated sold stock it held for eight years for $2,750. It originally purchased the stock for $2,100.
h. Moab Incorporated sold another machine for $7,300. It originally purchased this machine six months ago for $9,000
and has claimed $830 in depreciation expense against the asset.
Complete Moab Incorporated's Form 4797 for the year 2023.
Note: Input all the values as positive numbers. Use 2023 tax rules regardless of year on tax form.
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