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scoray [572]
3 years ago
9

ear, Inc. generates a $100,000 net operating loss in the current year. Plum, Inc. generates $500,000 of taxable income. Compute

the current year tax if Pear and Plum do/do not file a consolidated return.
Business
1 answer:
natita [175]3 years ago
7 0

Answer:

Consolidated=$84,000

Not consolidated= $105,000

Explanation:

Computation for the current year tax if Pear and Plum do/do not file a consolidated return.

Computation for Consolidated

Taxable income = ($500,000 - $100,000) x 21%

Taxable income =$400,000×21%

Taxable income = $84,000

Computation for Not consolidated

Not consolidated= $500,000 x 21%

Not consolidated= $105,000

Therefore the current year tax if Pear and Plum do/do not file a consolidated return will be :

Consolidated=$84,000

Not consolidated= $105,000

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3 years ago
Prepaid expenses are
sergiy2304 [10]

Answer:

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3 0
4 years ago
An organization of member brokers who agree to cooperate in the sale of properties listed by other brokers in exchange for a sha
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