The Prosperity Corporation has accumulated $200,000 of earnings beyond the reasonable needs of the business. The corporation's

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The Prosperity has accumulated $200,000 of earnings beyond the reasonable needs of the business. The corporation's regular taxable income is $165,000. Its adjusted taxable income for determining the accumulated earnings tax is $178,000. What is the total amount of taxes that the must pay?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...

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Taxation For Decision Makers 2014

ISBN: 9781118654545

6th Edition

Authors: Shirley Dennis Escoffier, Karen Fortin

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Question Posted: Mar 22, 2016 03:50 AM

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The Prosperity Corporation has accumulated $200,000 of earnings beyond the reasonable needs of the business. The corporation's

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83200 178000 20 35600 accumul...View the full answer

Taxation For Decision Makers 2014

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