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Author Question: A corporation has regular taxable income of $90,000 and its gross receipts have never exceeded ... (Read 70 times)

moongchi

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on: Sep 13, 2020

Question 1

Sycamore Corporation's financial statements show the following items for the current year in its financial accounting records:



For tax purposes, depreciation is $22,000.   Sycamore owns less than 20% of the company from which it received dividends.  Calculate Sycamore's taxable income, tax liability, and carry forwards.

Question 2

A corporation has regular taxable income of $90,000 and its gross receipts have never exceeded $5,000,000. Tax preference items and positive adjustments total $70,000. Its regular tax liability is $15,450. The alternative minimum tax is
◦ $0.
◦ $9,050.
◦ $24,000.
◦ $24,500.
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by moongchi on Sep 13, 2020

kingdude89

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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moongchi

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Reply 2 on: Sep 13, 2020
Thanks for the timely response, appreciate it

lkanara2

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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