Bateman Corporation sold an office building that it used in its business for $800,850. Bateman bought the building ten years ago for $599,575 and has claimed $201,275 of depreciation expense. What is the amount and character of Bateman's gain or loss?

Henry Oldham purchased the office building in which his CPA firm was housed in 1983 . Henny purchased the building for $225,000. Henry replaced the windows in the building and restructured the lay-out of the offices in the builing. His costs were $32,000 for the improvement. Henry is retiring and has just sold the buulding lor $495,000. Heny has claimed $55,000 in depreciation. Henry will have selling costs of $5,000. What is Henn's gain on the slie?

! Required information [The following information applies to the questions displayed below.] In year 0, Longworth Partnership purchased a machine for $64,750 to use in its business. In year 3, Longworth sold the machine for $43,200. Between the date of the purchase and the date of the sale, Longworth depreciated the machine by $23,900. (Loss amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.) b. What is the amount and character of the gain or loss Longworth will recognize on the sale if the sale proceeds are increased to $67,500? Description Amount Total Gain/(Loss) Recognized Character of Recognized Gain/(Loss): Ordinary Gain/(Loss) $1231 gain/(loss)

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