Question
The Sapote Corporation is a manufacturing corporation. The corporation has accumulated earnings of $450,000 and the corporation cannot establish a reasonable business need for any
The Sapote Corporation is a manufacturing corporation. The corporation has accumulated earnings of $450,000 and the corporation cannot establish a reasonable business need for any of that amount. What is the amount of the accumulated earnings tax, if any, that will be imposed on the corporation?
| a. | $45,000 |
| b. | $30,000 |
| c. | $50,000 |
| d. | $76,000 |
| e. | None of the above |
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Auditing Excellence Principles And Practices In Accounting Ensuring Accuracy Transparency And Compliance In Financial Reporting
Authors: Ryan Flores
1st Edition
B0C6448LC8, 979-8395841360
