WAM Corporation sold a warehouse during the current year for $830,000. The building had been acquired in 1993 at a cost of $730,000 and had total straight- line depreciation of $510,000.
What is the amount and nature of the gain or loss on the sale of the warehouse?

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The Answer of WAM Corporation sold a warehouse during the current year for $830,000. The building had been acquired in 1993 at a cost of $730,000 and had total straight- line depreciation of $510,000.
What is the amount and nature of the gain or loss on the sale of the warehouse?

WAM Corporation Sold a Warehouse During the Current Year for $830,000