1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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>

You might be interested in
Patrick Inc. sells industrial solvents in 5-gallon drums. Patrick expects the following units to be sold in the first three mont
rewona [7]

Answer:

The sales budget is prepared below. See table below.

Explanation:

<em>A sales budget shows the expected revenue and units to be sold for a forth coming accounting period. The sales budget for Patrick Inc would look as follows:</em>

Sales budget

Month        Units                 Revenue($)

January      41,000                1,435,000

February      38,000             1,330,000

March          50,000              1<u>,750,000</u>

                                               <u>4,515,000</u>

Note the revenue per month is determined by multiplying the unit to be sold by the price per unit of $35

6 0
3 years ago
On July 1, Stan, a steel manufacturer, telephoned Byron and offered to sell Byron six carloads of steel at $600 a ton. Byron sai
Viktor [21]

<u>Explanation:</u>

In the given case it is valid contract as there is time, promise, benefit and obligation to do thing. But verbal contracts are difficult to prove. Stan and Byron have a verbal contract which is a promise for 10 days and the contract has exchange of goods for $600. Offer is made by Byron but the acceptance is not yet given by Stan.

Here only the offer is made and it is not yet accepted by Byron. here Stan has revoked the offer through letter so the revoke has been communicated to the other party through letter. So in this case there is no breach of contract as the contract was clearly revoked by Stan through his letter.

7 0
3 years ago
Barry owns a 50 percent interest in B&amp;B Interests, a partnership. His brother, Benny, owns a 35 percent interest in that sam
omeli [17]

Answer:

$10,000 loss

Explanation:

Barry bought a property for $60,000. He sells it for $100,000 to a company he owns 50% of. 50% of $100,000 = $50,000. He bought it for $60,000 and sold it for $50,000... that's a $10,000 loss. But they did say they are keeping the property for resale so there still may be hope :D

5 0
3 years ago
A bank owns a 10-story office building. In the bank's balance sheet, this would be listed as part of?
ziro4ka [17]

A 10-story office building is owned by a bank. This would be an example of a chequable deposit on the bank's balance sheet.

An organization's assets, liabilities, and shareholder equity are listed on a balance sheet, which is a financial statement. One of the three primary financial statements used to assess a company is the balance sheet. It offers a snapshot of the assets and liabilities of a corporation as of the publication date.

A balance sheet is a summary of the financial positions of a person or an organization in financial accounting, regardless of whether they are a sole proprietorship, a business partnership, a corporation, a private limited company, or some other type of entity like a government or not-for-profit entity.

Learn more about balance sheet here

brainly.com/question/1113933

#SPJ4

5 0
1 year ago
Companies that outsource research and development and design jobs:
MissTica

Answer:

The correct answer is letter "B": run the risk of overseas companies using the information to produce competitive products.

Explanation:

Outsourcing is an approach used by companies to take part of their operations abroad where labor costs and materials are cheaper. This is a good strategy to avoid being subject to stiff regulations imposed by the government that could affect the business.  

Though, <em>the disadvantages of outsourcing rely on the loss of the quality control of the output, assigning duties to the unskilled workforce or the fact that the outsourced manufacturers can filter the technology of the company to competitors to produce imitations.</em>

4 0
3 years ago
Other questions:
  • Clyde is a cash-method taxpayer who reports on a calendar-year basis. This year Paylate Corporation has decided to pay Clyde a y
    7·1 answer
  • Boney Corporation processes sugar beets that it purchases from farmers. Sugar beets are processed in batches. A batch of sugar b
    10·1 answer
  • How might increasing the level of government transfers reduce the size of the economic pie? check all that apply?
    11·1 answer
  • Emerson Inc.'s would like to undertake a policy of paying out 45% of its income. Its latest net income was $1,250,000, and it ha
    5·1 answer
  • Sales for January are budgeted at 50,000 units, and the company expects sales to increase 4% each month. How many units will nee
    7·1 answer
  • Abby sells real property for $300,000. The buyer pays $5,000 in property taxes that had accrued during the year while the proper
    7·1 answer
  • In capitalism, what does competition do for consumers?
    8·2 answers
  • Hygfgfngfjgfjggfjffgfjgfjfgtjdftr6j
    11·2 answers
  • The Fed is the most independent of all U.S. government agencies. What is the main difference between it and the other government
    15·1 answer
  • How many patents have been issued in the united states?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!