Cohen Company's taxable income this year was $47,000. During the year, Cohen received interest on a municipal
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Cohen Company's taxable income this year was $47,000. During the year, Cohen received interest on a municipal bond of $4,000. The company had federal income tax of $6,000 and incurred penalties of $1,000. How much was Cohen's net income for the year?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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