This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Recaptured depreciation is the portion of the sale price that is below the book value. Indicate ... (Read 88 times)

HudsonKB16

  • Hero Member
  • *****
  • Posts: 535
on: Jul 11, 2018
Recaptured depreciation is the portion of the sale price that is below the book value.
 
  Indicate whether the statement is true or false

Question 2

In case of an existing asset which is depreciable and is used in business and is sold for a price equal to its initial purchase price, the difference between the sales price and its book value is considered as recaptured depreciation and will be
 
  taxed as ordinary income.
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

xiaomengxian

  • Sr. Member
  • ****
  • Posts: 311
Reply #1 on: Jul 11, 2018
Answer to Question 1

FALSE

Answer to Question 2

TRUE


HudsonKB16

  • Member
  • Posts: 535
Reply 2 on: Jul 11, 2018
Thanks for the timely response, appreciate it

samiel-sayed

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Last Judgment of Hunefer by Osiris, from a Book of Going Forth by Day in his tomb at Thebes. Last Judgment of Hunefer by Osiris, from a Book of Going Forth by Day in his tomb at Thebes.
An example of a manual appointment book. An example of a manual appointment book.
Two woodcuts from Darwin’s 1872 book, The Expression of Emotions in Man and Animals, that he used ... Two woodcuts from Darwin’s 1872 book, The Expression of Emotions in Man and Animals, that he used ...
A car wash reduced the price of a basic wash as a promotion and test of the market. With the ... A car wash reduced the price of a basic wash as a promotion and test of the market. With the ...
The price of rice in a small country is currently $6 per pound. In order to help low-income ... The price of rice in a small country is currently $6 per pound. In order to help low-income ...
Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ... Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ...
Video: Control of ventilation rate by other brain centers (posts, hypothalamus & cerebral cortex)

For a complete list of videos, visit our video library