A b c d e f g h i j k l m n o p q r 0 1000 1400 1800

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Unformatted text preview: oes not exercise significant influence over Clove and accordingly did not use the equity method of accounting for this investment. Ral declared and paid dividends of $11,000 during 1993. Corporate income tax rates are as follows: Taxable income but not over over $0 $50,000 50,000 75,000 75,000 100,000 100,000 335,000 335,000 _______ Pay $0 7,500 13,750 22,250 113,900 % on + excess 15% 25% 34% 39% 34% Of the amount over $0 50,000 75,000 100,000 335,000 Ral was not subject to the alternative minimum tax in 1993. Determine the following taxable or deductible amounts for Ral Corp. for the year ended December 31, 1993. ∙ Dividend income from Clove Corp. A. B. C. D. E. F. G. H. I. J. K. L. M. N. O. P. Q. $0 $1,000 $1,400 $1,800 $2,100 $2,700 $3,000 $5,000 $8,000 $21,570 $98,000 $200,000 $214,000 $300,000 $700,000 $1,000,000 $(13,430) 78 © 2009 DeVry/Becker Educational Development Corp. All rights reserved. Maxixishere Pdf Collection Becker CPA Review, PassMaster Questions Lecture: Regulation 3 R....
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