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CALCULATE the amount, if any, of recapture of depreciation, ordinary loss, or capital gain on...

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Accounting

CALCULATE the amount, if any, of recapture of depreciation, ordinary loss, or capital gain on the disposal of an asset that was sold at the end of year 1 for $ 18,000. The machine was originally purchased at a cost of $ 20,000 and was depreciated using the MACRS method for a 5 year property class.

INDICATE if there was recapture of depreciation (D), ordinary loss (P) or capital gain (G) in the disposal of this asset

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