. Calculate the State X apportionment factor for Sharon Incorporated, Carol Corporation, Josey Corporation, and Janice Corporation Sharon Carol Josey Janice State X Apportionment factors
. Calculate the State X apportionment factor for Sharon Incorporated, Carol Corporation, Josey Corporation, and Janice Corporation Sharon Carol Josey Janice State X Apportionment factors
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![a. Calculate the State X apportionment factor for Sharon Incorporated, Carol Corporation, Josey Corporation, and Janice Corporation
Sharon
Carol
Josey
Janice
State X
Apportionment
factors](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb1f3d46c-7c23-433b-b1e7-854e7dfc63e4%2Fb60ab64a-f98f-4837-9328-db18524c478c%2Fceuiixo_processed.png&w=3840&q=75)
Transcribed Image Text:a. Calculate the State X apportionment factor for Sharon Incorporated, Carol Corporation, Josey Corporation, and Janice Corporation
Sharon
Carol
Josey
Janice
State X
Apportionment
factors
![Sharon Incorporated is headquartered in State X and owns 100 percent of Carol Corporation, Josey Corporation, and
Janice Corporation, which form a single unitary group. Assume sales operations are within the solicitation bounds of
Public Law 86-272. Each of the corporations has operations in the following states:
Domicile State
Dividend income
Business income
Sales: State X
Sales: State Y
Sales: State Z
Sales: State A
Sales State B
Property: State X
Property: State Y
Property: State Z
Property: State A
Payroll: State X
Payroll: State Y
Payroll: State Z
Payroll: State A
Sharon
Carol
Josey
Incorporated Corporation Corporation
State X
State Y
State Z
(throwback) (throwback) (nonthrowback)
$ 1,830
$ 525
$ 595
46,500
78,500
29,300
16,900
69,500
65,750
14,500
43,250
18,500
52,500
20,200
21,600
86,500
17,900
55,250
14,200
14,300
6,850
39,750
40,500
6,200
Janice
Corporation
State Z
(nonthrowback)
$ 530
19,500
16,100
14,500
18,400
12,200
20,750
15,400
19,400
Compute the following for State X assuming a tax rate of 15 percent.
Note: Use an equally weighted three-factor apportionment. Round all apportionment factors to 4 decimal places.
Round other answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.
a. Calculate the State X apportionment factor for Sharon Incorporated, Carol Corporation, Josey Corporation, and Janice Corporation](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb1f3d46c-7c23-433b-b1e7-854e7dfc63e4%2Fb60ab64a-f98f-4837-9328-db18524c478c%2Flxbw60i_processed.png&w=3840&q=75)
Transcribed Image Text:Sharon Incorporated is headquartered in State X and owns 100 percent of Carol Corporation, Josey Corporation, and
Janice Corporation, which form a single unitary group. Assume sales operations are within the solicitation bounds of
Public Law 86-272. Each of the corporations has operations in the following states:
Domicile State
Dividend income
Business income
Sales: State X
Sales: State Y
Sales: State Z
Sales: State A
Sales State B
Property: State X
Property: State Y
Property: State Z
Property: State A
Payroll: State X
Payroll: State Y
Payroll: State Z
Payroll: State A
Sharon
Carol
Josey
Incorporated Corporation Corporation
State X
State Y
State Z
(throwback) (throwback) (nonthrowback)
$ 1,830
$ 525
$ 595
46,500
78,500
29,300
16,900
69,500
65,750
14,500
43,250
18,500
52,500
20,200
21,600
86,500
17,900
55,250
14,200
14,300
6,850
39,750
40,500
6,200
Janice
Corporation
State Z
(nonthrowback)
$ 530
19,500
16,100
14,500
18,400
12,200
20,750
15,400
19,400
Compute the following for State X assuming a tax rate of 15 percent.
Note: Use an equally weighted three-factor apportionment. Round all apportionment factors to 4 decimal places.
Round other answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.
a. Calculate the State X apportionment factor for Sharon Incorporated, Carol Corporation, Josey Corporation, and Janice Corporation
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