Identify each of white corporations following assets as an

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Identify each of White Corporation's following assets as an ordinary, capital, or 1231 asset.

A. Two years ago, White used its excess cash to purchase a piece of land as an investment.

B. Two year ago, white purchased land and a warehouse. It uses these assets in its business.

C. Manufacturing machinery White purchased earlier this year.

D. Inventory White purchased 13 months ago but is ready to be shipped to a customer.

E. Office equipment White has used in its business for the past three years.

F. 1000 shares of stock in Black corporation that White purchased two years ago because it was a good investment.

G. Account receivable from a customer with terms 2/10 net 30.

H. Machinery White held for three years and then sold at a loss of $10,000

Reference no: EM13609925

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