What would be corporation''s current earnings and profits, Accounting Basics

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What would be corporation''s current earnings and profits

Au Sable Corporation reported taxable income of $800,000 in 20X3 and paid federal income taxes of $272,000. Not included in the computation was a disallowed penalty of $25,000, life insurance proceeds of $100,000, and an income tax refund from 20X2 of $50,000. Au Sable is an accrual basis taxpayer. The corporation's current earnings and profits for 20X3 would be:

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Accounting Basics: What would be corporation''s current earnings and profits

Reference No:- TGS045356

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Recent Questions Asked Accounting Basics

Q : Expected return on company common stock

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Q : What would be corporation''s current earnings and profits

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Ask an Expert for Answer!!

Accounting Basics: What would be corporation''s current earnings and profits

Reference No:- TGS045356

Recent Questions Asked Accounting Basics

Q : Expected return on company common stock

Q : What is omnidata''s annual estimated taxable income

Q : Prepare for such a fire in terms of the money to spent

Q : Find probability of illness using the hand rule

Q : What would be corporation''s current earnings and profits

Q : How much of the distribution is treated as a dividend

Q : Confidence interval for difference between school-s scores

Q : Company wacc-retained earnings

Q : How much of the distribution is treated as a dividend

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