A wholesale business with a December 31 year-end purchased new equipment on November 25,2021, for...
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Accounting
A wholesale business with a December yearend purchased new equipment on November for $ Before the business owned no other equipment.
Required:
a What are the tax consequences if the business sells the equipment in for a $b $c $Use a minus sign when entering numbers that reduce UCC.
b How would your answer change if on December the business acquired new equipment costing $ Assume the new equipment is not designated immediate expensing property. Use a minus sign when entering numbers that reduce UCC.
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