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Dutchess Bosco, Inc. reported the following items in the current year: Capital Gains $44,000,000 Capital Losses $60,000,000 In addition, the corporation reported capital gains for the previous years: 2016 $9,041,000 2017 $5,826,000 2018 $5,924,000 2019 $1.771.000 The corporation recovered to show capital gains income in 2021 of $469,200. Calculate the remaining capital gains carryover the corporation has after 2021.

Dutchess Bosco, Inc. reported the following items in the current year: Capital Gains $44,000,000 Capital Losses $60,000,000 In addition, the corporation reported capital gains for the previous years: 2016 $9,041,000 2017 $5,826,000 2018 $5,924,000 2019 $1.771.000 The corporation recovered to show capital gains income in 2021 of $469,200. Calculate the remaining capital gains carryover the corporation has after 2021.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Dutchess Bosco, Inc. reported the following items in the current year: Capital Gains $44,000,000 Capital Losses $60,000,000 In addition, the corporation reported capital gains for the previous years: 2016 $9041,000 2017 $5,826,000 2018 $5,924.000 2019 $1.771.000 The corporation recovered to show capital gains income in 2021 of $469,200. Calculate the remaining capital gains carryover the corporation has after 2021.
Transcribed Image Text:Dutchess Bosco, Inc. reported the following items in the current year: Capital Gains $44,000,000 Capital Losses $60,000,000 In addition, the corporation reported capital gains for the previous years: 2016 $9041,000 2017 $5,826,000 2018 $5,924.000 2019 $1.771.000 The corporation recovered to show capital gains income in 2021 of $469,200. Calculate the remaining capital gains carryover the corporation has after 2021.
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