Question
54. LO.10 In each of the following independent situations relating to the penalty tax under 531, determine the dividend the corporation would have to pay
54. LO.10 In each of the following independent situations relating to the penalty tax under 531, determine the dividend the corporation would have to pay to make its ATI (accumulated taxable income) be $0.
| Corporation | Beginning Balance in Accumulated E & P | Taxable Income (as Adjusted) | Reasonable Needs of the Business |
| a. Oriole | $3,000,000 | $200,000 | $3,100,000 |
| b. Teal | 3,900,000 | 300,000 | 4,000,000 |
| c. Wren | 4,000,000 | 300,000 | 4,400,000 |
| d. Stork | 5,000,000 | 500,000 | 5,000,000 |
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Auditing Mantras Forensic Accounting Important Standards On Auditing
Authors: Buffy Mielcarek
1st Edition
B09PP4SKL1, 979-8796281437
