$6,000 of life insurance premiums on which it was beneficiary
$22,000 of meals and entertainment expenses
$30,000 of charitable contributions
a. Determine Mondial Corporation’s taxable income.
b. Determine Mondial Corporation’s income tax liability
c. Determine Mondial Corporation’s income tax liability if book deprecation is $15,000 less than tax depreciation.
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This question was asked on Jul 09, 2012 and answered on Jul 10, 2012.
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