Required information [The following information applies to the questions displayed below] On August 1 of year 0 , Dirksen purchased a machine for $33,250 to use in its business. On December 4 of year 0 , Dirksen sold the machine for $26,000. Use MACRS Table. Note: Loss amounts should be indicated by a minus sign. Do not round percentages used for calculations. Round other intermediate computations to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable. a. What are the omount and character of the gain or loss Dirksen will recognize on the sale? Required information [The following information applies to the questions displayed below] On August 1 of year 0 , Dirksen purchased a machine for $33,250 to use in its business. On December 4 of year 0 , Dirksen sold the machine for $26,000. Use MACRS Table. Note: Loss amounts should be indicated by a minus sign. Do not round percentages used for calculations. Round other intermediate computations to the nearest whole dollar amount, Leave no answer blank. Enter zero if applicable. Dirksen depreciated the machinery using MACRS (seven-year recovery period). What are the amount and character of the gain or ss Dirksen will recognize on the sale if the machine is sold on January 15 of year 1 instead? Required information [The following information applies to the questions displayed below.] Rayburn Corporation has a buliding that it bought during year 0 for $850,000. It soid the building in year 5 . During the time it held the buliding, Rayburn depreciated it by $100,000. What are the amount and character of the gain or loss Rayburn will recognize on the sale in each of the following alternative situations? Note: 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. a. Raybum receives $840,000. Required information [The following information applies to the questions displayed below.] Rayburn Corporation has a building that it bought during year 0 for $850,000. It sold the building in year 5 . During the time it held the building, Rayburn depreclated it by $100,000. What are the amount and character of the gain or loss Rayburn will recognize on the sale in each of the following alternative situations? Note: Loss amounts should be indicated by a minus sign. Enter NA if a situation is not applicabie, Leave no answer blank. Enter zero if applicable. b. Rayburn recelves $900,000. Required information [The following information opplies to the questions displayed below.] Rayburn Corporation has a building that it bought during year 0 for $850,000. It sold the building in year 5 . During the time it held the building, Rayburn depreciated it by $100,000 What are the amount and character of the gain or loss Rayburn will recognize on the saie in each of the following alternative situations? Note: 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. c. Rayburn recelves $700,000
