Quidillac corp sold machine for 80000 that it has acquired


Question - Quidillac Corp. sold machine for $80,000 that it has acquired 3 years ago from $68,000. If its adjusted basis when sold was $50,000. What should Quick report on its tax return on this sale?

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Accounting Basics: Quidillac corp sold machine for 80000 that it has acquired
Reference No:- TGS02737411

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