Unformatted text preview: Intro The worksheet that follows provides a pro forma workpaper to help you solve
the assigned homework problem. It organizes your solution in a manner that is
consistent with the analytical methods that we discuss in class and allow you to
focus on the technical issues, rather than workpaper techniques and computer
However, you should continuously analyze the organization of the solution and
the answers that you receive, as you work the problems. That is the only way that
you will learn the skills and techniques that you will need for your long-term
success. You should also refrain from checking the correct answers until after you
have completed your solution.
Click on the appropriate tab below to move to the worksheet for the homework
problem that you want to work on.
Once you have completed the assignment, save the file to your computer,
then submit it in the manner prescribed in the course syllabus.
NOTE: Cells with red dots in them contain notes that provide additional
information about the cell contents. Double click on those cells to read the notes.
Also, you need enter information only in the cells that are highlighted in bright
yellow. Page 1 Intro Page 2 For each tax in column A in the table below, record the entity responsible for paying the tax (col. D), the period (or
event) when the tax base is valued (col. F), and the items that are included in the tax base (col. G). Ignore the columns
that are greyed out. You can find information about these taxes in chapter 1 of the text.
Tax Rate Schedule Tax Brackets % Valuation….
Tax Paying Entity Method Period Property
Personalty owner of the property
owner of the property Assessment Date (per gov't)
Assessment Date (per gov't) Transactions
Severence purchaser of the good
purchaser of the good
extractor of goods point of sale
point of sale
when extracted Gratutitous Transfers
Estate the recievor of the gift
the estate date of gift
date of death Income
U.S. Corporation the individual
the corporation calendar year
calendar year or fiscal year e tax (col. D), the period (or
se (col. G). Ignore the columns ase
real estate and capital improvements
all assets that aren't realty all items that can be taxable when sold
all items that can be taxable when sold
natural resources that are extractable the wealth of the gift
the wealth of the estate total income of the individual
total income of the corporation ...
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