Tatoo IncReported a Net Capital Loss of $13,000 in 2017

question 58

Multiple Choice

Tatoo Inc.reported a net capital loss of $13,000 in 2017.It had a net capital gain of $4,300 in 2015 and $3,000 in 2014.In 2016,although the company suffered a net operating loss,it had net capital gains of $1,000.What is the amount of Tatoo's capital loss carryover remaining after it applies the carryback?

• A) $4,700.
• B) $5,700.
• C) $8,700.
• D) $13,000.

Understand the concept and techniques of cognitive restructuring.

Recognize the principles and goals of humanistic therapy.

Identify the characteristics of genuineness in Rogerian therapy.

Comprehend the shared beliefs of psychoanalysts and cognitive therapists regarding thought exploration.

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Definitions:

Gross Method

An accounting method for recording purchases at the full invoice price without deducting any cash discounts.

Credit Terms

Conditions under which credit is extended by a lender to a borrower, including repayment schedule, interest rate, and due dates.

Gross Profit

The financial gain obtained by subtracting the cost of goods sold from the revenue generated from sales, excluding operating expenses.

Sales Discounts

Reductions in the price of goods or services offered by a seller to a buyer to encourage prompt payment.