This topic contains a solution. Click here to go to the answer

Author Question: In 1980, Mr. Lyle purchased a factory building to use in business for $480,000. When Mr. Lyle sells ... (Read 95 times)

ap345

  • Hero Member
  • *****
  • Posts: 537
In 1980, Mr. Lyle purchased a factory building to use in business for $480,000. When Mr. Lyle sells 
the building for $580,000, he has taken depreciation of $470,000. Straight-line depreciation would have been $400,000.  Mr. Lyle must report
◦ $570,000 of ordinary gain.
◦ $570,000 of Sec. 1231 gain.
◦ $70,000 of ordinary income and $500,000 of Sec. 1231 gain.
◦ $470,000 of ordinary gain and $100,000 of Sec. 1231 gain.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by ap345 on Sep 13, 2020

mochi09

  • Sr. Member
  • ****
  • Posts: 335
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly




ap345

  • Member
  • Posts: 537
Reply 2 on: Sep 13, 2020
:D TYSM


Alyson.hiatt@yahoo.com

  • Member
  • Posts: 354
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

For a complete list of videos, visit our video library