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Caldwell corporation sold a factory building for 300000

Question - Caldwell Corporation sold a factory building for $300,000. The building originally cost $600,000 and had an adjusted basis of $200,000 due to the $400,000 depreciation taken when it was sold. What is Caldwell's Section 1231 gain on the sale of the property?

1. $400,000

2. $300,000

3. $100,000

4. $80,000

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Accounting Basics: Caldwell corporation sold a factory building for 300000

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Accounting Basics: Caldwell corporation sold a factory building for 300000

Reference No:- TGS02591964

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