Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

Trail Corporation has gross profits on sales of $140,000 and deductible expenses of $180,000. In addition, Trail has a net capital gain of $60,000. Trail's taxable income is :

a) $20,000 loss.

b) $60,000.

c) $20,000.

d) $40,000 loss.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M939819

Have any Question? 


Related Questions in Accounting Basics

Treatment of intangible assets and impairmentsdetermine

Treatment of Intangible Assets and Impairments Determine accounting alternatives for intangibles. There are a number of differences between IFRS and U.S. GAAP for the treatment of intangible assets and impairments. The i ...

Accounts receivablesbullwhat is the importance of the

Accounts Receivables • What is the importance of the turnover of Accounts Receivables? • Why is it is essential for organizations to keep cash reserves on hands? • Is it possible to still bring in a lot of revenue, but s ...

Exercise 1making special pricing decisionssuppose the

Exercise 1 Making special pricing decisions Suppose the Baseball Hall of Fame in Cooperstown, New York, has approached Hungry-Cardz with a special order. The Hall of Fame wishes to purchase 55,000 baseball card packs for ...

Analyzing capital expendituresassume that you have received

Analyzing Capital Expenditures Assume that you have received a capital expenditure request for $52,000 for plant equipment and that you are required to do a justification analysis using capital budgeting techniques. The ...

Titania co sells p 400000 of 12 bonds on june 1 2010 the

Titania Co. sells P 400,000 of 12% bonds on June 1, 2010. The bonds pay interest or December 1 and June 1. The due date of the bonds is June 1, 2014. The bonds yield 10% On October 1, 2011, Titania buys back P 120,000 wo ...

Environmental and sustainability reporting is now a major

Environmental and sustainability reporting is now a major issue around the world. There are even global guidelines for sustainability reporting (the Global Reporting Initiative--GRI). However, there is considerable varia ...

Are you agree or disagree regarding the paragraph on

Are you agree or disagree regarding the paragraph on payroll which is a part of auditing-Monetary compensation is a leading cause for the common practice of verifying total officers' compensation even when the tests of c ...

Development of an anti-fraud programa for-profit

Development of an Anti-Fraud Program A for-profit manufacturing organization loses a certain percentage of its annual revenue to fraud. Fraud occurs regardless of organizational size or type. Every organization is vulner ...

Calculate and provide an interpretation of the financial

Calculate and provide an interpretation of the financial results of an organisation listed on the FTSE 100 using ratio analysis. Assignment Task: Choose two of the UK'S Top three Telecoms companies from the list provided ...

Assignment questionbio-sustainable feeds bsf ltd an

ASSIGNMENT QUESTION Bio-sustainable Feeds (BSF) Ltd., an Australian bio-research firm listed on the Australian Stock Exchange (ASX), has engaged research on sustainable aqua-culture feeds for two decades. Its research on ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate