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Author Question: Pete sells equipment for $15,000 to Marcel, his son. The equipment cost $20,000 and has accumulated ... (Read 37 times)

chandani

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on: Sep 13, 2020
Pete sells equipment for $15,000 to Marcel, his son. The equipment cost $20,000 and has accumulated depreciation of $12,000.  Marcel will use the equipment in his business.
a. What is the amount and character of Pete's gain on the sale?
b. How does your answer change if the sales price is $22,000?
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by chandani on Sep 13, 2020

akudia

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Reply #1 on: Sep 13, 2020
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.
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chandani

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Reply 2 on: Sep 13, 2020
Excellent

peter

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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