For the tax year Beta Corporation had net income per books of 76000 tax exempt

For the tax year beta corporation had net income per

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For the tax year, Beta Corporation had net income per books of $76,000, tax-exempt interest of $4,000, excess contributions of $2,000, meals in excess of the 50% limitation of $8,000, and federal income taxesof $18,000. What is the amount of Beta Corporation’s taxable income as it would be shown on Schedule M-1 of its corporate income tax return? . .
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Orson Corp. had an E&P deficit of $160,000 at December 31, 2016. Its net income per books was $80,000 for 2017. Cash dividends on common stock totaling $40,000 were paid in December 2017. Orsonshould report the distribution to its shareholders as  Ordinary dividends 100%.This answer is correct .
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Book depreciation in excess of allowable tax depreciation2,000Based on the above facts, what is the amount of A’s taxable income? .
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  • Fall '17
  • Dan Ward
  • Accounting, fair market value

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