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This is an advanced financial accounting question from ownership patterns and income taxes. The question is in the picture I KNOW the ANSWER IS D
This is an advanced financial accounting question from ownership patterns and income taxes. The question is in the picture I KNOW the ANSWER IS D 90900. But I don't know how they got D. Can somone EXPLAIN WHY THE ANSWER is D? If you just give me the answer D, I can't rate you 48. White Company owns 60% of Cody Company. Separate tax returns are required. For 2012, White's operating income (excluding taxes and any income from Cody was $300,000 while Cody reported a pretax income of $125,000. During the period, Cody paid a total of $25,000 in cash dividends; $15,000 (60%) to White and $10,000 to the non-controlling interest. White paid dividends of $180,000. The income tax rate for both companies is 30%. Compute the income tax payable by White for 2013. A. $93,600. B. $91,350. C. $94,500. D. $90,900. E. $90,000
This is an advanced financial accounting question from ownership patterns and income taxes. The question is in the picture
I KNOW the ANSWER IS D 90900. But I don't know how they got D. Can somone EXPLAIN WHY THE ANSWER is D? If you just give me the answer D, I can't rate you
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