Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Assuming a tax rate of 30%, what is the consolidated realized profit for the transactions above, for 2021? Edit View Insert Format Tools Table 12pt
Assuming a tax rate of 30%, what is the consolidated realized profit for the transactions above, for 2021? Edit View Insert Format Tools Table 12pt w Paragraph B J U A By Ty v EV EVE To VXAssuming a tax rate of 25%, what is the consolidated un- realized profit for the transactions above, for 2021? Edit View Insert Format Tools Table 12pt Paragraph B IYA LV TV V 0 Ev Ev To V VXX Inc. owns 80% of Y Inc. During 2021, X Inc. sold inventory to Y for a gross prot $10,000. At the end of 2021, 60% of this inventory remained in the warehouses of Y. As well, in 2021, Y Inc. sold inventory to X Inc. for a gross prot of $5,000. At the end of 2021. 25% of the inventory remained in the warehouses of X. Further. in 2021, Y Inc. sold land to X Inc, at a gross prot of$12,000. This land was not sold to outsiders by the end of 2021. Assuming a tax rate of 30% what would be the amount of Deferred Tax that would appear on the consolidated balance sheet at the end of 2021? Edit View Insert Format Tools Table 12pt Paragraph " B J U A By Ty V Ev TO BY VXAssuming a tax rate of 40%, what is the consolidated realized profit for the transactions above, for 2021? Edit View Insert Format Tools Table 12pt > Paragraph B I U A QV TV 0 y Ev To VX
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started