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MissTica
3 years ago
9

Lettuca Inc. generated a $77,050 ordinary loss from operations this year. It also recognized $5,920 recaptured ordinary income,

$55,000 net Section 1231 loss, and $7,840 net capital loss on the sale of assets. Compute Lettuca’ s net operating loss.
A. $(77,050)

B. $(126,130)

C. $(132,050)

D. $(133,970)
Business
1 answer:
satela [25.4K]3 years ago
8 0

Answer:

Net operating loss = $(126,130)

Explanation:

Given:

Ordinary loss from operations = $77,050

Recaptured ordinary income = $5,920

Net Section 1231 loss = $55,000

Net capital loss = $7,840

Find:

Net operating loss

Computation:

Net operating loss = Ordinary loss from operations - Recaptured ordinary income + Net Section 1231 loss

Net operating loss = $77,050 - $5,920 + $55,000

Net operating loss = $(126,130)

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Mr. James purchased a vacation house in Los Angeles on July 1, 2017. The purchase price was $1,000,000, and Mr. James spent $10,
dedylja [7]

Answer:

= $210,000

Explanation:

The question is to determine the income realized by Mr. James in 2019

The income is calculated as follows:

First, the basic information for calculation:

The Purchase price for the vacation house = $1,000,000

Spent Capital additions = $10,000

2019 worth of the house = $1,200,000

Secondly, based on the extracted figures, the income is calculated  as follows

Income realised in 2019 = 2019 worth of the house - (Purchase Price - capital addition)

= $1,200,000 - ($1,000,000 - $10,000)

= $1,200,000 - $990,000

= $210,000

4 0
3 years ago
On October 1, Gala Corporation has 300 units of Product XYZ on hand. The company plans to sell 1,200 units of Product XYZ during
Troyanec [42]

Answer:

Units of Product XYZ must be produced during October are A) 1,400

Explanation:

Units of Product XYZ must be produced during October = Units of Product XYZ are sold during October + units of Product XYZ on hand October 31 - units of Product XYZ on hand October 1.

Gala Corporation has 300 units of Product XYZ on hand on October 1 and  500 units on hand October 31.

The company plans to sell 1,200 units of Product XYZ during October.

Units of Product XYZ must be produced during October = 1,200 + 500 - 300 = 1,400 units.

5 0
3 years ago
The gross domestic product (GDP) of the United States is defined as the all in a given period of time. Based on this definition,
masha68 [24]

Answer:

PART-1) The gross domestic product (GDP) of the United States is defined as the market value of all final goods and services produced if within the United States if in a given period of time

PART-2)

1) Excluded. Roadway Motors is a U.S. company, however as it produces the convertible in Germany, the output will be part of the GDP of Germany, not the GDP of the United States

2) Excluded. Since the accountant has provided her services during 2018, the value of those services will be included in 2018 GDP, not in the year 2017 GDP

3) Included. The Zippycar example is straightforward and should clearly count as something produced in the United States in 2015. The gross domestic product (GDP) of the United States refers to the market value of all the final goods and services produced within the United States in a given period of time

4) Included. Although Fastlane is a Japanese company, the sedan is produced within the United States and should be included in the GDP of the United States

5) Excluded. The gross domestic product (GDP) of the United States refers to the market value of all the final goods and services produced within the United States in a given period of time, such as a year or quarter.

8 0
3 years ago
Packard Corporation reports the following information: Net cash provided by operating activities $335,000 Average current liabil
Molodets [167]

Answer:

$165,000

Explanation:

Free cash flow is the net cash cash flow available for the shareholders or for the reinvestment after paying all capital expenditure.

The Depreciation is already adjusted in the Cash Flow from operating activities.

Free Cash Flow = Cash Flow from operating activities - Dividend payment - Capital expenditure

Free Cash Flow = $335,000 - $60,000 - $110,000 = $165,000

Current and Long term liabilities has nothing to do in free cash flow calculations.

4 0
3 years ago
Imagine that you are a professional in the airline industry and you witness a catering agent leaping between a catering truck an
qwelly [4]

Answer:

i would shoot her, to put her out of her misery

i hope this helps

have a great day:)

6 0
2 years ago
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