Network Corporation Purchased $200,000 of Five-Year Equipment on March 24,2015

question 44

Essay

Network Corporation purchased $200,000 of five-year equipment on March 24,2015.They elected to expense $60,000 of the cost under Sec.179 in effect that year.After depreciating the equipment $28,000 in 2016 and $22,400 in 2017,the equipment was sold for $190,000.
a.What is the amount of the realized gain (or loss)on the sale?
b.How is the gain or loss taxed?

Apply the concept of utility to explain consumer choices and market phenomena such as the water-diamond paradox.

Recognize the role of price in consumer decision-making and utility maximization.

Understand the concept of correlation coefficient and its significance in statistics.

Interpret measures of central tendency and variability.

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Definitions:

Law

A set of regulations established and implemented by social or governmental bodies to govern conduct.

Classical Criminology

A school of thought in criminology that views behavior as stemming from free will, demands accountability and responsibility, and stresses the importance of deterrence.

Biological Perspectives

Viewpoints in science and psychology that emphasize genetic, hormonal, and neurophysiological processes as the primary drivers of human behavior and traits.

Sociological Approaches

Distinctive strategies and perspectives used by sociologists to study and understand social phenomena, structures, and processes.