Web57. Bozeman sold equipment that it uses in its business for $80,000. Bozeman bought the equipment two years ago for $75,000 and has claimed $20,000 of depreciation expense. What is the amount and character of Bozeman’s gain or loss? A. $25,000 §1231 gain. B. $20,000 ordinary gain, and $5,000 §1231 gain. C. $5,000 Web57. Bozeman sold equipment that it uses in its business for $80,000. Bozeman bought the equipment two years ago for $75,000 and has claimed $20,000 of depreciation expense. What is the amount and character of Bozeman's gain or loss? A. $25,000 §1231 gain. B. $20,000 ordinary gain, and $5,000 §1231 gain. C. $5,000 ordinary gain, and …
Bozeman sold equipment that it uses in its business
Web47 ) Bozeman sold equipment that it uses in its business for $ 80,000 . Bozeman bought the equipment two years ago for $ 75,000 and has claimed $ 20,000 of depreciation expense . Bozeman bought the equipment two years ago for $ 75,000 and has claimed $ 20,000 of depreciation expense . WebBozeman sold equipment that it uses in its business for $80,000. Bozeman bought the equipment two years ago for $60,000 and has claimed $5,000 of depreciation expense. What is the amount and character of Bozeman's gain or loss? a.$25,000 §1231 gain. b.$25,000 capital gain. c.None of the choices are correct. uncruise wild and wooly
Recently Sold Homes in Bozeman MT - 5367 Transactions …
WebBozeman sold equipment that it uses in its business for $80,000. Bozeman bought the equipment two years ago for $75,000 and has claimed $20,000 of depreciation expense. What is the amount and character of Bozeman's gain or loss? A) $25,000 §1231 gain. B) $20,000 ordinary gain, and $5,000 §1231 gain. C) $5,000 ordinary gain, and $20,000 … WebDec 4, 2024 · Explanation: Selling amount of equipment = $80,000 Purchasing price 2 years ago = $75,000 Depreciation expense = $20,000 Gain (Loss) = Cash proceeds - Book value = $80,000 - ($75,000 - $20,000) = $80,000 - $55,000 Capital gain = $25,000 Therefore, the amount and character of Bozeman's gain is $25,000. Advertisement … WebBozeman sold equipment that it uses in its business for $80,000. Bozeman bought the equipment two years ago for $75,000 and has claimed $20,000 of depreciation expense. What is the amount and character of Bozeman's gain or loss? $20,000 ordinary gain, and $5,000 §1231 gain. thors top 7