LO.1 Mauve Corporation began operations as a farm supplies business and used a fiscal year ending October
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LO.1 Mauve Corporation began operations as a farm supplies business and used a fiscal year ending October 31.
The company gradually went out of the farm supplies business and into the mail-order Christmas gifts business. The company has received permission from the IRS to change to a fiscal year ending January 31, effective for the year ending January 31, 2013. For the short period November 1, 2012, through January 31, 2013, Mauve earned $20,000. Calculate Mauve’s tax liability for the short period November 1, 2012, through January 31, 2013.
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Related Book For
South Western Federal Taxation 2013 Individual Income Taxes
ISBN: 9781133189558
36th Edition
Authors: William Hoffman, James E. Smith
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