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e-lub [12.9K]
3 years ago
7

Carrot Corporation, a C corporation, has a net short-term capital gain of $65,000 and a net long-term capital loss of $250,000 d

uring 2017. Carrot Corporation had taxable income from other sources of $720,000. Prior years’ transactions included the following:1. Net long-term capital gain $150,0002. Net short-term capital gain 60,0003. Net short-term capital gain 45,0004. Net long-term capital gain 35,000Compute the amount of Carrot’s capital loss carryover to 2018.
Business
2 answers:
Evgen [1.6K]3 years ago
6 0

Answer: The amount of carryover loss to 2018 ($45,000)

Explanation:

Net long term capital gain = $150,000

Net short term capital gain = $60,000

Net short term capital gain =$45,000

Net long term capital gain = $35,000

Net short term capital gain for 2017 $65,000 - Net long term capital loss for 2017 $250,000

= 65,000 - 250,000

= (185,000)

Prior year

Net short term capital gain + Net short term capital + Net long term capital gain

= 60,000 + 45,000 + 35,000

=140,000

The amount capital loss carryover

=- 185,000 +140,000

= (45,000)

Molodets [167]3 years ago
5 0

Answer:

The answer is  $45,000

Explanation:

$45,000

- Net Short Term Capital gain +Net Long Term Capital loss= 65,000+ (250,000)= -185,000

-Net Long Term Capital loss(2015)+Net Short Term Capital gain (2016)+Net Long Term Capital Gain(2017) = 60,000+45,000+35,000=140,000

-185,000+140,000= <u>(45,000)</u>

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Which of the following colors is highly variable and can be either cool or slightly warm, depending on how it is used?
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Explanation:

Dark blue with dark red

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2 years ago
On the end-of-period spreadsheet, Supplies has a balance of $2,000 in the Unadjusted Trial Balance Debit column and an adjustmen
Mademuasel [1]

Answer:

$1,500

Explanation:

On the end-of-period spreadsheet, the credit adjustment of $500 is made in the Debit balance of Supplies inventory, which will net off the values and resulted Supplies Inventory value will be $1,500 at the end of the year and it will be reported on the financial statements. $1,500 should be appeared for supplies in the adjusted Trial Balance column.

7 0
3 years ago
Arnold, a single individual, has adjusted gross income of $65,000 in the current year. Arnold donates the following items to his
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Answer:

Option A. $15,400

Explanation:

The net deduction allowed as an charitable contributions are as under:

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3 0
3 years ago
Bird's Eye View manufactures three different sizes of bird cages: small (for finches and canaries), medium (for cockatiels and s
Lesechka [4]

Answer:

Step 1: Identify cost activities and their cost drivers

- Material Handling ⇒ Labor hours

- Automated processing ⇒ Machine hours

- Plastic parts insertion ⇒ No. of parts

- Inspection ⇒ Labor hours

- Packaging ⇒ Orders shipped

Step 2: Assign overhead costs to activities identified

- Material Handling ⇒ $55,000

- Automated processing ⇒ $40,000

- Plastic parts insertion ⇒ $6,000

- Inspection ⇒ $29,000

- Packaging ⇒ $31,000

Step 3: Calculate Total Estimated Cost Driver Activity(for large cage only)

- Material Handling ⇒ 2 per unit × 350 = 700 labor hours

- Automated processing ⇒ 4 per unit ×350 = 1400 machine hours

- Plastic parts insertion ⇒ 8 per unit × 350 = 2800 no. of parts

- Inspection ⇒ 2 per unit × 350 = 700 labor hours

- Packaging ⇒ 180 orders shipped

Step 4: Calculate overhead rates

- Material Handling ⇒ $55,000 ÷ 700 = $79 per labor hour

- Automated processing ⇒ $40,000 ÷ 1400 =$28 per machine hour

- Plastic parts insertion ⇒ $6,000÷ 2800 = $2 per part

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- Packaging ⇒ $31,000 ÷ 180=$172 per order shipped

Step 5: Apply overheads to product

Since the the amount of activity consumed by each product is no given , it is unable to calculate per unit cost of overhead.

If it were given, the total activity consumed by the product would be multiplied by their respective activity rates calculated above, and then those amounts would be added together to get total overhead consumed by Large cage. Lastly, that total overhead  will be divided by no. of units produced to get per unit overhead cost.

7 0
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NikAS [45]
Investments can lead to more demand for goods. Investment means an increase in capital spending and is a component of Aggregate Demand (AD), if there is an increase in investment it will help to boost AD and therefore economic growth.
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