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Unformatted text preview: remiums of $4,000. Ral is the beneficiary of the policies. • State income taxes of $12,000. During 1993, Ral made estimated federal income tax payments of $35,000. These payments were
debited to prepaid tax expense on Ral's books.
Ral does 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:
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Becker CPA Review, PassMaster Questions
Lecture: Regulation 3 Taxable income
_______ % on
113,900 Of the
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,
∙ Sales A.
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This note was uploaded on 06/14/2013 for the course ACCOUNTING Regulation taught by Professor Becker during the Fall '10 term at Keller Graduate School of Management.
- Fall '10
- The Land