A couple of years ago, the company Health4All purchased land, a building, and two depreciable assets from another corporation.All of these have recently been disposed. Use the information shown to determine the presence and amount of any capital gain,capital loss, or depreciation recapture.AssetLandBuildingAsset 1Asset 2PurchasePrice, $-210,000-800,000-50,500-10,000Recovery Period,Years27.533Current BookValue, $320,00015,5005,000Sales Price, $265,000255,00021,00011,500The capital gain (CG) amount for land is determined to be $The capital loss (CL) amount for building is determined to be $The depreciation recapture (DR) amount for asset 1 is determined to be $The depreciation recapture (DR) amount for asset 2 is determined to be $The capital gain (CG) amount for asset 2 is determined to be $

A capital gain is the expansion in a capital resource's worth and is acknowledged when the resource…

le of years ago, the company Health4All purchased land, a building, and two deprecia hese have recently been disposed. Use the information shown to determine the prese loss, or depreciation recapture. sset and ilding set 1 set 2 Purchase Price, $ -210,000 -800,000 -50,500 -10,000 Recovery Period, Current Book Years Value, $ 27.5 3 3 320,000 15,500 5,000 Sales Price, $ 265,000 255,000 21,000 11,500 pital gain (CG) amount for land is determined to be $ pital loss (CL) amount for building is determined to be $ preciation recapture (DR) amount for asset 1 is determined to be $

le of years ago, the company Health4All purchased land, a building, and two deprecia hese have recently been disposed. Use the information shown to determine the prese loss, or depreciation recapture. sset and ilding set 1 set 2 Purchase Price, $ -210,000 -800,000 -50,500 -10,000 Recovery Period, Current Book Years Value, $ 27.5 3 3 320,000 15,500 5,000 Sales Price, $ 265,000 255,000 21,000 11,500 pital gain (CG) amount for land is determined to be $ pital loss (CL) amount for building is determined to be $ preciation recapture (DR) amount for asset 1 is determined to be $

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

A couple of years ago, the company Health4All purchased land, a building, and two depreciable assets from another corporation.
All of these have recently been disposed. Use the information shown to determine the presence and amount of any capital gain,
capital loss, or depreciation recapture.
Asset
Land
Building
Asset 1
Asset 2
Purchase
Price, $
-210,000
-800,000
-50,500
-10,000
Recovery Period,
Years
27.5
3
3
Current Book
Value, $
320,000
15,500
5,000
Sales Price, $
265,000
255,000
21,000
11,500
The capital gain (CG) amount for land is determined to be $
The capital loss (CL) amount for building is determined to be $
The depreciation recapture (DR) amount for asset 1 is determined to be $
The depreciation recapture (DR) amount for asset 2 is determined to be $
The capital gain (CG) amount for asset 2 is determined to be $

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