White company acquires a new machine for $75,000 and uses it in white’s manufacturing operations. a few months after white places the machine in service, it discovers that the machine is not suitable for white’s business. white had fully expensed the machine in the year of acquisition using § 179. white sells the machine for $60,000 after it held the machine only for a total of 15 months. what was the tax status of the machine when it was disposed of and the amount of the gain or loss?
a. an ordinary asset and $60,000 loss.
b. a § 1231 asset and $60,000 gain.
c. an ordinary asset and $60,000 gain.
d. a § 1231 asset and $60,000 loss.
e. a capital asset and $60,000 gain.

Which organization was established to train the hard-core unemployed? - better business bureau- equal employment opportunity commission- environmental protection agency- affirmative action committee- national alliance of business

Suppose that in an economy the structural unemployment rate is 2.2 percent, the natural unemployment rate is 5.3 percent, and the cyclical unemployment rate is 2 percent. the frictional unemployment rate is percent and the actual unemployment rate (in this economy) is percent.

Analyzing and computing accrued warranty liability and expense waymire company sells a motor that carries a 60-day unconditional warranty against product failure. from prior years' experience, waymire estimates that 2% of units sold each period will require repair at an average cost of $100 per unit. during the current period, waymire sold 69,000 units and repaired 1,000 units. (a) how much warranty expense must waymire report in its current period income statement? (b) what warranty liability related to current period sales will waymire report on its current period-end balance sheet? (hint: remember that some units were repaired in the current period.) (c) what analysis issues must we consider with respect to reported warranty liabilities?