On July 31, 2019, Sabio Public College showed the following amounts to be used for:Renewal and replacement of college properties . . . . . . . . . . . . . . . . . . $200,000Retirement of indebtedness on college properties . . . . . . . . . . . . . . . . . 300,000Purchase of physical properties for college purposes, but unexpended at July 31, 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . 400,000What total amount should be included in Sabio’s plant funds at July 31, 2019?a. $900,000b. $600,000c. $400,000d. $200,000

On July 31, 2019, Sabio Public College showed the following amounts to be used for:Renewal and replacement of college properties . . . . . . . . . . . . . . . . . . $200,000Retirement of indebtedness on college properties . . . . . . . . . . . . . . . . . 300,000Purchase of physical properties for college purposes, but unexpended at July 31, 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . 400,000What total amount should be included in Sabio’s plant funds at July 31, 2019?a. $900,000b. $600,000c. $400,000d. $200,000

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter17: Business Tax Credits And The Alternative Minimum Tax

Section: Chapter Questions

Problem 11P

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