Exclusive of capital transactions pixie corp. had 100000 of, Ask an Expert

Accounting

Exclusive of capital transactions, Pixie Corp. had $100,000 of taxable income. Its capital gains and losses were:

Short-term gain $10,000
Long-term gain 12,000
Short-term loss (20,000)
Long-term loss 5,000

Pixie's taxable income for the year was:

a. $97,000

b. $122,000

c. $100,000

d. $107,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M984291

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