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QUESTION 5 JDog corporation owns stock in Oscar, Inc. JDog received a $20,000 dividend from Oscar, Inc. JDog owns 40 percent of the Oscar, Inc.

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QUESTION 5 JDog corporation owns stock in Oscar, Inc. JDog received a $20,000 dividend from Oscar, Inc. JDog owns 40 percent of the Oscar, Inc. stock Oscar's net income after tax for the year was $500,000. What temporary book-tax difference associated with the dividend will JDog report for the current year (ignore the dividends received deduction)? (Enter any favorable difference as positive and an unfavorable difference as negative.) QUESTION 6 On July 1 of year 1, Riverside, Corp. (RC), a calendar-year taxpayer, acquired the assets of another business in a taxable acquisition. When the purchase price was allocated to the assets purchased, RC determined it had a basis of $1,300,000 in goodwill for both book and tax purposes. At the end of year 1, RC determined that the goodwill had not been impaired during the year. In year 2 however, RC concluded that $200,000 of the goodwill had been impaired, and they required RC to write down the goodwill by $200,000 for book purposes. What book-tax difference associated with its goodwill should RC report in year 12 (Enter a favorable difference as a positive and an unfavorable as a negative) QUESTION 7 On July 1 of year 1, Riverside, Corp. (RC), a calendar-year taxpayer, acquired the assets of another business in a taxable acquisition. When the purchase price was allocated to the assets purchased, RC determined it had a basis of $1,300,000 in goodwill for both book and tax purposes. At the end of year 1, RC determined that the goodwill had not been impaired during the year. In year 2 however, RC concluded that $200,000 of the goodwill had been impaired, and they required RC to write down the goodwill by $200,000 for book purposes. What book-tax difference associated with its goodwill should RC report in year 2? (Enter a favorable difference as a positive and an unfavorable as a negative)

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