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Carol corp is a domestic corporation
| taxable period:2021 | |
| Gross sales | php 2,500,000 |
| other operating income | 200,000 |
| non-operating income | 100,000 |
| cost of sales | 1,000,000 |
| operating expenses | 5,00,000 |
| non operating expenses | 50,000 |
Compute for the 2021 NET TAXABLE INCOME using OSD .show computation
- 1,020,000
- 1,030,000
- 1,080,000
- 1.120,000
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- Fisafolia Corporation has gross income from operations of $210,000 and operating expenses of $160,000 for 2019. The corporation also has $30,000 in dividends from publicly traded domestic corporations in which the ownership percentage was 45 percent. Calculate the corporation's dividends received deduction for 2019. $_____________ Assume that instead of $210,000, Fisafolia Corporation has gross income from operations of $135,000. Calculate the corporation's dividends received deduction for 2019. $___________ Assume that instead of $210,000, Fisafolia Corporation has gross income from operations of $158,000. Calculate the corporation's dividends received deduction for 2019. $_____________Assume that a corporation has $100,000 of taxable income from operations plus $5,000 of interest income and $10,000 of dividend income. What is the company’s federal tax liability?Caloundra Corporation has book income of $ 40,000. Included in the book income is $3,000 of tax-exempt interest, $7,000 of book income tax expense, and a $2,000 nondeductible fine. Also included in book income are $10,000 of dividends. Caloundra received from a 30 percent owned corporation. Using this information and Form 1120 provide the amounts that go on each line on the form. Form 1120, Schedule M-1 Line 1 $__________________ Form 1120, Schedule M-1, Line 10 $__________________ Form 1120, Page 1, Line 28 $__________________ Form 1120, Schedule C, Line 2(a) $ and 2(c) $__________________ Form 1120, Schedule C, Line 24 $__________________ Form 1120, Page 1, Line 29b $__________________ Form 1120, Page 1 , Line 30 $__________________
