24. LO.5 If the beginning balance in Swan, Inc.s OAA is $6,700 and the following transactions occur,

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24. LO.5 If the beginning balance in Swan, Inc.’s OAA is $6,700 and the following transactions occur, what is Swan’s ending OAA balance?

Depreciation recapture income $ 21,600 Payroll tax penalty (4,200)

Tax-exempt interest income 4,012 Nontaxable life insurance proceeds 100,000 Life insurance premiums paid (nondeductible) (3,007)

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Essentials Of Taxation Individuals And Business Entities

ISBN: 233160

1st Edition

Authors: Nellen/Young/Raabe/Maloney

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Question Posted: Jul 18, 2024 07:08 AM

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24. LO.5 If the beginning balance in Swan, Inc.s OAA is $6,700 and the following transactions occur,

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Essentials Of Taxation Individuals And Business Entities

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