In year 0, Longworth Partnership purchased a machine for $57,250 to use in its business....
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Accounting
In year Longworth Partnership purchased a machine for $ to use in its business. In year Longworth sold the machine for $ Between the date of the purchase and the date of the sale, Longworth depreciated the machine by $
Note: Loss amounts should be indicated by a minus sign. Leave no answers blank. Enter zero if applicable.
a What are the amount and character of the gain or loss Longworth will recognize on the sale?
tableDescriptlonAmountTotal Gain or Loss Recognized,Character of Recognized Gain or Loss:Ordinary Gain or Loss$ gain or loss
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