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Problem 13-25 (Algorithmic) (LO. 2) Oak Corporation has the following general business credit carryovers: 2016 $19,250 2017 57.750 2018 20,250 2019 61,750 Total carryovers $159.000
Problem 13-25 (Algorithmic) (LO. 2) Oak Corporation has the following general business credit carryovers: 2016 $19,250 2017 57.750 2018 20,250 2019 61,750 Total carryovers $159.000 The general business credit generated by activities during 2020 equals $127,200 and the total credit allowed during the current year is $231,000 (based on tak lability) a. Enter the amount (if any) of each year's carryover utilized in 2020. Amount of Carryover Utilized Year 2016 2017 2018 III 2019 2020 b. What is the amount of any unused credits carried forward to 2021
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Fundamental Accounting Principles
Authors: Larson Kermit, Tilly Jensen
Volume I, 14th Canadian Edition
71051503, 978-1259066511, 1259066517, 978-0071051507
