The following data represent the accounting results for the year ended December 31, 2013, for four different
Question:
Calculate the estimated effective annual tax rate for each company.
Transcribed Image Text:
Corporation A $95,000 30,000 Corporation B Corporation CCorporation D 5,000 70,000) 15,000 8,000 3,500 $ (80,000) (50,000) 20,000 (35,000) YTD operating income (loss) Tax exempt municipa income. . .,- .. . Deductions not allowed for tax purposes. . . 2,000 . . . 2,000 1,000 Carryback income For 2011 .. . 32,000 15,000 105,000 35,000 Projected future income for carryforward period 12,500 Not more likely than not.. . . . _ . .. . . .. 40,000
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Corporation A Corporation B Corporation C Corporation D YTD realized income loss 95000 5000 80...View the full answer
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Related Book For
Advanced Accounting
ISBN: 978-0538480284
11th edition
Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng
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