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Due in two hours due in two hours!!!!! Vanquish, Incorporated, a C Corporation, had the following items of income and expense during 2021. Gross profit

Due in two hours due in two hours!!!!!

Vanquish, Incorporated, a C Corporation, had the following items of income and expense during 2021.

Gross profit from sales $220,000

Interest income on bank account $3,650

Interest income on State of Missouri Bonds $4,000

Long term capital loss on sale of stock $5,000

Wages expense $90,000

Charitable contributions $17,000

Other deductible expenses $57,000

Depreciation - BOOK $10,000

Depreciation - TAX (MACRS) $15,000

Federal income tax credit $2,500

What is Vanquish, Incorporated's tax rate?

Solve as we have in class (on your own paper, WORD doc, Excel, etc.) and attach a file showing your work.

a) Compute Taxable Income and Tax Due (or Refund) for the Corporation.

b) What specific items and amounts from 2021 does the Corporation have to CarryForward? Why?

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Vanquish, Incorporated, a C Corporation, had the following items of income and expense during 2021. DES DO DO Gross profit from sales $220,000 Interest income on bank account $3,650 Interest income on State of Missouri Bonds $4,000[ Long term capital loss on sale of stock $5,000 Wages expense $90,000 D Charitable contributions $17,000 De Draw Dave Dreve Other deductible expenses $57,000 Depreciation - BOOK $10,000 Depreciation - TAX (MACRS) $15,000 Die DO De Federal income tax credit $2,500 DO What is Vanquish, Incorporated's tax rate? Solve as we have in class (on your own paper, WORD doc, Excel, etc.) and attach a file showing your work. a) Compute Taxable income and Tax Due (or Refund) for the Corporation. Driver b) What specific items and amounts from 2021 does the Corporation have to CarryForward? Why? Vanquish, Incorporated, a C Corporation, had the following items of income and expense during 2021. DES DO DO Gross profit from sales $220,000 Interest income on bank account $3,650 Interest income on State of Missouri Bonds $4,000[ Long term capital loss on sale of stock $5,000 Wages expense $90,000 D Charitable contributions $17,000 De Draw Dave Dreve Other deductible expenses $57,000 Depreciation - BOOK $10,000 Depreciation - TAX (MACRS) $15,000 Die DO De Federal income tax credit $2,500 DO What is Vanquish, Incorporated's tax rate? Solve as we have in class (on your own paper, WORD doc, Excel, etc.) and attach a file showing your work. a) Compute Taxable income and Tax Due (or Refund) for the Corporation. Driver b) What specific items and amounts from 2021 does the Corporation have to CarryForward? Why

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