7090926-Solutions - CHAPTER 16 CORPORATIONS: INTRODUCTION,...

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Unformatted text preview: CHAPTER 16 CORPORATIONS: INTRODUCTION, OPERATING RULES, AND RELATED CORPORATIONS SOLUTIONS TO PROBLEM MATERIALS Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 1 Proprietorship capital gain tax and withdrawal Unchanged 1 2 Partnership capital gain and withdrawals New 3 Corporation versus proprietorship Unchanged 3 4 Corporate tax versus partnership tax New 5 Issue ID New 6 Expenses to avoid double taxation Unchanged 6 7 Unreasonable compensation in closely held Modified 7 corporation 8 Check-the-box rules Unchanged 8 9 Accrual method required Unchanged 9 10 Capital loss treatment of corporation and individual Modified 10 11 Capital gain treatment for corporations and Modified 11 individuals 12 LTCL of individuals and corporations Modified 12 13 Passive loss rules: closely held C corporations and New PSCs contrasted 14 Tax treatment of charitable contributions for New corporate and noncorporate taxpayers 15 Corporate dividends received deduction between New related corporations 16 Dividends received deduction Unchanged 16 17 Tax liability of related corporations Unchanged 17 18 Members of combined group Unchanged 18 19 Differences between taxable income and Unchanged 19 accounting income 16-1 Status: Q/P 16-2 2004 Comprehensive Volume/Solutions Manual Question/ Present in Prior Problem Topic Edition Edition 20 Start-up expenditures Modified 20 21 Compare LTCL treatment for corporations New and for proprietorships 22 Tax effect of NOL: corporation versus Unchanged 22 proprietorship 23 Tax treatment of distributions from proprietorship Unchanged 23 and corporation 24 Corporation net income taxation, cash distribution New to owner versus proprietorship with cash distribution 25 Comparison of deduction for casualty loss for New individual and corporate taxpayers 26 Tax liability determination as proprietorship Unchanged 26 or corporation 27 Capital loss of corporation Unchanged 27 28 Comparison of treatment of capital losses for Unchanged 28 individual and corporate taxpayers 29 Capital gains and losses of a corporation; Unchanged 29 carryback/carryover 30 Passive loss of closely held corporation; PSC Unchanged 30 31 Corporate charitable contribution Unchanged 31 32 Charitable contributions of corporation; carryover Modified 32 33 Timing of charitable contributions deduction of Unchanged 33 accrual basis corporation 34 Dividends received deduction New 35 Dividends received deduction Unchanged 35 36 Organizational expenses Unchanged 36 37 Organizational expenses New 38 Determine corporate income tax liability Unchanged 38 39 Related corporations Unchanged 39 40 Related corporations Unchanged 40 41 Brother-sister controlled group Unchanged 41 42 Schedule M-1, Form 1120 New 43 Issue ID Unchanged 43 Corporations: Introduction, Operating Rules, and Related Corporations 16-3 CHECK FIGURES 21.a....
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This note was uploaded on 03/08/2010 for the course ACCT 3500 taught by Professor Smith during the Spring '10 term at Kwantlen Polytechnic University.

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7090926-Solutions - CHAPTER 16 CORPORATIONS: INTRODUCTION,...

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