Question
Green, Inc., a US domestic corporation, has the following income during 2021. Green Inc. does not manufacture. $10,000 sales of inventory to customers located in
Green, Inc., a US domestic corporation, has the following income during 2021. Green Inc. does not manufacture.
$10,000 sales of inventory to customers located in Germany. Title passes in Germany.
$15,000 sales of inventory to customers located in France. Title passes in the US.
$15,000 services income from services performed in Hong Kong.
$20,000 of income earned from its branch located in Belgium.
$10,000 dividend received from White Inc., a US company.
Assume Green Inc. will elect to take a foreign tax credit. Green Inc. is in the 21% tax bracket and has no deductions.
What is Green Inc.s total foreign source income?
| a. | $70,000 | |
| b. | $60,000 | |
| c. | $45,000 | |
| d. | $35,000 | |
| e. | $10,000 |
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Audit Skill Management Ref PPAP ISO 9000 And ISO 14000 Series
Authors: FULBODH CHAUDHARY
1st Edition
1520470843, 978-1520470849
