Silverline Manufacturing purchased equipment several years ago for $90,000 to use in its business. This year, it sold the equipment for $95,000. The accumulated MACRS depreciation through the date of sale was $25,000. Determine the amount of Section 1231 gain recognized by Silverline Manufacturing.
Silverline Manufacturing purchased equipment several years ago for $90,000 to use in its business. This year, it sold the equipment for $95,000. The accumulated MACRS depreciation through the date of sale was $25,000. Determine the amount of Section 1231 gain recognized by Silverline Manufacturing.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter11: Depreciation, Depletion, Impairment, And Disposal
Section: Chapter Questions
Problem 9RE
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Determine the amount of section 1231 gain recognized by silverline manufacturing on these general accounting question

Transcribed Image Text:Silverline Manufacturing purchased equipment several years ago
for $90,000 to use in its business. This year, it sold the equipment
for $95,000. The accumulated MACRS depreciation through the
date of sale was $25,000.
Determine the amount of Section 1231 gain recognized by Silverline
Manufacturing.
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