Answered: 25. Calculate the amount of corporate…

25. Calculate the amount of corporate income tax due and the net income after taxes (in $) for the corporation. (Assume the corporate tax rate is 21%.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

25. Calculate the amount of corporate income tax due and the net income after taxes (in $) for the corporation. (Assume the
corporate tax rate is 21%.)
Taxable
Tax Net Income
Name
Income Liability after Taxes
$
Corporation 3 $13,450,000 $

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