If gorilla is a sole proprietorship rather than a

Assignment Help Accounting Basics

Reference no: EM13595399

During 2011, Gorilla Corporation has net short-term capital gains of $70,000, net long-term capital losses of $195,000, and taxable income from other sources of $620,000. Prior years' transactions included the following:

2007 net short-term capital gains 30000
2008 net long-term capital gains 55000
2009 net short-term capital gains 15000
2010 net long-term capital gains 40000

a. How are the capital gains and losses treated on Gorilla's 2011 tax return?
b. Determine the amount of the 2011 capital loss that is carried back to each of the previous years.
c. Compute the amount of capital loss carryover, if any, and indicate the years to which the loss may be carried.
d. If Gorilla is a sole proprietorship, rather than a corporation, how would the owner report these transactions on her 2011 tax return?

Reference no: EM13595399

Questions Cloud

Zenephia corp invested cash in a 9-month cd on october 1 : zenephia corp. invested cash in a 9-month cd on october 1 2010. if zenephia has an accounting period which ends on

A voltaic cell is constructed that uses the following : a voltaic cell is constructed that uses the following reaction and operates at 298 k.ered ni2 is -0.277zns ni2aq zn2aq

Write an equation to represent the dissociation of na2so4 : write an equation to represent the dissociation of na2so4 into ions in an aqueous solution. 5.3 grams of na2so4 are

Watsons bay co is considering a contract to manufacture : watsons bay co. is considering a contract to manufacture didgeridoos. producing didgeridoos will require an investment

If gorilla is a sole proprietorship rather than a : during 2011 gorilla corporation has net short-term capital gains of 70000 net long-term capital losses of 195000 and

When a non-volatile solute is added the vapor pressure of : vapor pressure of pure acetone propanone is 266 torr. when a non-volatile solute is added the vapor pressure of acetone

The molar heat capacity of a gas at constant pressure is : the molar heat capacity of a gas at constant pressure is 18.7j mol-1 k-1. what is the heat capacity of 9.4 moles of

If 100 moles of h2 and 200 moles of i2 are introduced into : the kc value for the following equilibrium at 500 degrees celsius is 49.h2g i2g lt-- --gt 2higif 1.00 moles of h2 and

A 15 gram sample of a gaseous hydrocarbon has a volume of : question a 1.5 gram sample of a gaseous hydrocarbon has a volume of 820 ml when measured at 227 degrees celcius and

User Account

All Pages