XYZ Corporation has accounting income for the year ending October 31 of $ 174795. Included in this calculation are the following amounts: • Meals and entertainment $ 37151 • Amortization and depreciation $ 64294 • Dividend from Canadian subsidiary $ 51049 You have correctly determined CCA to be $ 2878. What is the correct amount of taxable income?

XYZ Corporation has accounting income for the year ending October 31 of $ 174795. Included in this calculation are the following amounts: • Meals and entertainment $ 37151 • Amortization and depreciation $ 64294 • Dividend from Canadian subsidiary $ 51049 You have correctly determined CCA to be $ 2878. What is the correct amount of taxable income?

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter24: Multistate Corporate Taxation

Section: Chapter Questions

Problem 22CE

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