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Required information Comprehensive Problem 11-71 (LO 11-1, LO 11-2, LO 11-3, LO 11-4, LO 11-5, LO 11-6) (Static) [The following information applies to the questions displayed below.] Moab Incorporated manufactures and distributes high-tech biking gadgets. It has decided to streamline some of its operations so that it will be able to be more productive and efficient. Because of this decision it has entered into several transactions during the year. a. Moab Incorporated sold a machine that it used to make computerized gaclgets for $27,300 cash. It originally bought the machine for $19,200 three years ago and has taken $8,000 in depreciation. b. Moab Incorporated held stock in ABC Corporation, which had a value of $12,000 at the beginning of the year. That same stock had a value of $15,230 at the end of the year. c. Moab incorporated sold some of its inventory for $7,000 cash. This inventory had a basis of $5,000. d. Moab Incorporated disposed of an office building with a fair market value of $75,000 for another office building with a fair market value of $55,000 and $20,000 in cash. It originaly bought the office building seven years ago for $62,000 and has taken $15,000 in depreciation. e. Moab lncorporated sold some land held for investment for $28,000. It originally bought the land for $32,000 two years ago. f. Moab incorporated sold another machine for a note payable in four annual installments of $12,000. The first payment was received in the current year. It originally bought the machine two years ago for $32,000 and has claimed $9,000 in depreciation expense against the machine. g. Moab Incorporated sold stock it held for eight years for $2,750. It originally purchased the stock for $2,100. h. Moab incorporated sold another machine for $7,300. It originally purchased this machine six months ago for $9,000 and has claimed $830 in depreciation expense against the asset. Comprehensive Problem 11-71 Part (3) [MUST MANUALLY GRADE] (Static) Complete Moab Incorporated's Form 4797 for the year. Visit the IRS website and download 4797 of Form 1040 . Enter the required values in the appropriate flelds. Save your completed Tax Form to your computer and then upload it here by clicking "Browse." Next, click "Save." Required information Comprehensive Problem 11-71 (LO 11-1, LO 11-2, LO 11-3, LO 11-4, LO 11-5, LO 11-6) (Static) [The following information applies to the questions displayed below.] Moab Incorporated manufactures and distributes high-tech biking gadgets. It has decided to streamline some of its operations so that it will be able to be more productive and efficient. Because of this decision it has entered into several transactions during the year. a. Moab Incorporated sold a machine that it used to make computerized gaclgets for $27,300 cash. It originally bought the machine for $19,200 three years ago and has taken $8,000 in depreciation. b. Moab Incorporated held stock in ABC Corporation, which had a value of $12,000 at the beginning of the year. That same stock had a value of $15,230 at the end of the year. c. Moab incorporated sold some of its inventory for $7,000 cash. This inventory had a basis of $5,000. d. Moab Incorporated disposed of an office building with a fair market value of $75,000 for another office building with a fair market value of $55,000 and $20,000 in cash. It originaly bought the office building seven years ago for $62,000 and has taken $15,000 in depreciation. e. Moab lncorporated sold some land held for investment for $28,000. It originally bought the land for $32,000 two years ago. f. Moab incorporated sold another machine for a note payable in four annual installments of $12,000. The first payment was received in the current year. It originally bought the machine two years ago for $32,000 and has claimed $9,000 in depreciation expense against the machine. g. Moab Incorporated sold stock it held for eight years for $2,750. It originally purchased the stock for $2,100. h. Moab incorporated sold another machine for $7,300. It originally purchased this machine six months ago for $9,000 and has claimed $830 in depreciation expense against the asset. Comprehensive Problem 11-71 Part (3) [MUST MANUALLY GRADE] (Static) Complete Moab Incorporated's Form 4797 for the year. Visit the IRS website and download 4797 of Form 1040 . Enter the required values in the appropriate flelds. Save your completed Tax Form to your computer and then upload it here by clicking "Browse." Next, click "Save

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