Solution-Find the net taxable capital gain for tax purpose

Find the net taxable capital gain for tax purpose

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Reference no: EM132614218

Question - JJJ Co, a public company gives the following accounting information for this year:

Loss on sale of shares : ($4,000) (Cost was 6,000 and proceeds of sale was: $2,000)

Gain on Sale of Furniture was $10,000 (Proceed was $20,000; Cost was $10,000)

Net Capital Loss carryforward from 3 years ago $2,000

Required - Find the net taxable capital gain for tax purpose?

Reference no: EM132614218

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Find the net taxable capital gain for tax purpose

Reference no: EM132614218

Reference no: EM132614218

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