Abc co a corporation had gross sales of 500000 in 2008


ABC Co., a corporation had gross sales of $500,000 in 2008. Additionally, the company also received $100,000 in dividend income and $50,000 as interest income. The total expenditures of this company for 2008 were $272,000.

Suppose the tax rate on taxable income under $100,000 is 25% anything over $100,000 the rate is 39%.

What is the company's total federal tax liability for 2008?

Request for Solution File

Ask an Expert for Answer!!
Financial Management: Abc co a corporation had gross sales of 500000 in 2008
Reference No:- TGS01089412

Expected delivery within 24 Hours