Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A Corporation's reconciliation of statutory and effective tax rates is given below: Non - recurring or unusual items are: a . # 3 , #

A Corporation's reconciliation of statutory and effective tax rates is given below:
Non-recurring or unusual items are:
a. # 3, # 4,# 6, # 8
b. # 6, # 8
c. # 4, # 6, # 8
d.# 4,# 6,# 8,# 9
e. None of the aboveA Corporations reconciliation of statutory and effective tax rates is given below:
#
Reconciliation to U.S. Statutory Rate
2020
2019
2018
Statutory U.S. federal income tax rate (%)
21.0
21.0
21.0
1
Equity earning effect
0.2
1.3
(1.0)
2
Foreign income taxed at rates other than the statutory U.S. tax rate
2.8
3.4
(5.2)
3
U.S. tax effect of foreign earnings and dividends
(3.3)
(4.3)
(3.4)
4
Acquisitions, divestitures, and ownership restructuring activities
30.3
6.2
5
Foreign Exchange gains/losses
(0.1)
(4.4)
0.9
6
Impact of Enactment of U.S. Tax Reform
10.8
(0.5)
7
State and local income taxes
2.0
(2.1)
4.1
8
Goodwill impairments
(22.7)
(51.2)
9
Stock-based compensation
(0.3)
0.1
(1.4)
Effective tax rate
(0.4)
4.9
20.7
Non-recurring or unusual items are:
a.
# 3, # 4, # 6, # 8
b.
# 6, # 8
c.
# 4, # 6, # 8
d.
# 4, # 6, # 8, # 9
e.
None of the above
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

Briefly describe the general algorithm used in decision trees.

Answered: 1 week ago

Question

4 How can employee involvement be achieved?

Answered: 1 week ago