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Dahasolnce [82]
3 years ago
9

In 2020, Creeper Corporation had a $4,000 net long-term capital loss that it could not carry back. For 2021, it reported the fol

lowing capital transactions. Long-term capital gain$2,000 Short-term capital gain3,000 As a result of these transactions, for 2021 Creeper reports a: a.Net short-term capital gain of $1,000. b.Carryover to 2022 of $2,000 long-term capital loss. c.Net short-term capital gain of $3,000. d.Net long-term capital gain of $1,000.
Business
1 answer:
podryga [215]3 years ago
4 0

Answer:

d. Net long-term capital gain of $1,000

Explanation:

2020, $4,000 net long-term capital loss that it could not carry back.

2021, Long-term capital gain $2,000

2021, Short-term capital gain $3,000

In 2021, Creeper would reports a:

Net long-term capital gain = Long-term capital gain + Short-term capital gain - Net long-term capital loss

Net long-term capital gain = $2,000 + $3,000 - $4,000

Net long-term capital gain = $1,000

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Answer:

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Current liabilities = Accounts payable + Accrued liabilities + Notes payable (short-term) = 29,317 + 6,298 + 21,481 = $57,096

Working capital = Current assets - Current liabilities = 199,179  - 57,096  = $142,083

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A car dealership spends $140,000 on cars to stock their lot. After a day of sales, they earn a total revenue of $300,000. What i
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Answer:

$160,000

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Trade Associations provide all of the following except
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Answer: B: a degree

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