F g h i j k l m n o p q r 2100 2700 3000 5000 8000

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Unformatted text preview: sMaster Questions Lecture: Regulation 3 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: Taxable income but not over over $0 $50,000 50,000 75,000 75,000 100,000 100,000 335,000 335,000 _______ % on + excess 15% 25% 34% 39% 34% Pay $0 7,500 13,750 22,250 113,900 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. ∙ Net long-term capital loss A. B. C. D. E. F. G. H. I. J. K. L. M. N. O. P. Q. R. $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) $(14,550) CPA-04376 Explanation Choice "A" is correct. $0. The capital loss of $6,000 (which is the $6,400 capital loss netted against...
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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.

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