Hauswirth Corporation sold (or exchanged) a warehouse in year 0. Hauswirth bought the warehouse several years ago for $65,00 and it has claimed $23,000 of depreciation expense against the building. (Loss amounts should be indicated by a minus sign. Le no answer blank. Enter zero if applicable. Round your final answers to the nearest whole dollar amount.) Required: a. Assuming that Hauswirth receives $50,000 in cash for the warehouse, compute the amount and character of Hauswirth's recognized gain or loss on the sale. b. Assuming that Hauswirth exchanges the warehouse in a like-kind exchange for some land with a fair market value of $50,000 compute Hauswirth's realized gain or loss, recognized gain or loss, deferred gain or loss, and basis in the new land. c. Assuming that Hauswirth receives $20,000 in cash in year O and a $50,000 note receivable that is payable in year 1, compute amount and character of Hauswirth's gain or loss in year O and in year 1.

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Alfredo Company purchased a new 3-D printer for $90,000. This printer is expected to last for ten years, at which time, Alfredo believes it will be able to sell the printer for $15,000. Calculate yearly depreciation using the double-declining-balance method. PLEASE NOTE: All whole dollar amounts will be with "$" and commas as needed (i.e. $12,345). Year 1 Depreciation: _________________ Year 2 Depreciation: _________________  Year 3 Depreciation: _________________ Year 4 Depreciation: _________________ Year 5 Depreciation: _________________ Year 6 Depreciation: _________________ Year 7 Depreciation: _________________ Year 8 Depreciation: _________________ Year 9 Depreciation: _________________ Year 10 Depreciation: _________________

3. In year 0, Canon purchased a machine to use in its business for $56,000. In year 3, Canon sold the machine for $42,000. Between the date of the purchase and the date of the sale, Canon depreciated the machine by $32,000. (Loss amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.)   b. What are the amount and character of the gain or loss Canon will recognize on the sale, assuming that it is a corporation? Total Gain/Loss Recognized?  Ordinary Gain/Loss?  1231 Gain/Loss?

Jake parchased a $235,000 crane for his constraction business. He sold the crane for $175,000 after taking $115,000 of depreciation. Assume take is What is the amount of gain or loss on the sale?

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Ashvinn

For the next two questions, a "+" sign is optional for any answer that is a net cash inflow, but a "-" sign is mandatory for any answer that is a net cash outflow. Reebok Ltd is purchasing a $7.7 million machine, which will cost the firm an additional $46,000 to have the machine transported and installed ready for use. The machine is depreciated to a value of zero over a tax life of 4 years via the straight-line method. It will also be worthless in the salvage market at this time. The machine is expected to generate incremental revenues of $4.4 million per year for the firm while also causing incremental costs of $1.6 million per year. Reebok's marginal tax rate is 37.5%. You are forecasting incremental free cash flows for Reebok Ltd (a) What is the incremental free cash flow associated with the new machine at t=0? The free cash flow at t=0 will be $ (Round your answer to the nearest dollar) (b) What is the annual incremental free cash flows each year from t=1 to t=4? The annual free…

Shamrock Inc. owns equipment that cost $605,000 and has accumulated depreciation of $157,000. The expected future net cash flows from the use of the asset are expected to be $400,000. The fair value of the equipment is $346,000. Prepare the journal entry, if any, to record the impairment loss. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit

Katie, your Accounting Manager, has asked you to calculate the depreciation for the new company car. The company purchased the new car on May 1, 2018. The purchase price was $22,600 and had a useful life of 3 years. The salvage or residual amount is 5% of the purchase price. Round to the nearest whole dollar. Calculate the total depreciation expense in 2018, 2019, 2020, and 2021 using the Double-Declining Balance Method.