User Account

All Pages

Compute the personal holding company income

Assignment Help Accounting Basics
Reference no: EM132051346

Comprehensive Problem - Marital Aids Inc. reported the following results last year:

Gross income from sales $50,000

Salaries 20,000

Overhead 25,000

Capital gains 200,000
Net operating loss from previous year 30,000

Dividends from U.S. sources 40,000

Tax-exempt interest 10,000

Taxable interest 35,000

Income tax paid (including $59,650 on capital gains) 62,050

If the corporation has only four individual shareholders, compute the following:

a. Adjusted ordinary gross income.

b. Personal holding company income.

c. Undistributed personal holding company income.

d. Current dividend required to avoid personal holding company tax.

e. What impact would it have if taxable interest was only $12,000 and there was no NOL carryover?

Reference no: EM132051346

Questions Cloud

Create a nutritional care plan for your client : Create a nutritional care plan for your client. This will include an evaluation of nutritional risk, a list of interventions, and a list of expected outcomes.
What is the cost of its ending inventory : In February, it purchased H thru L at $6.00 per letter. If Alphabet Company uses the LIFO method, what is the cost of its ending inventory
Choose a species and describe some adaptations that species : Choose a species and describe some adaptations that species developed that allow them to survive in their native habitat.
Calculate hydrotech effective cost of debt capital : Calculate HydroTech's net debt. Using a tax rate of 35%, calculate HydroTech's effective cost of debt capital.
Compute the personal holding company income : If the corporation has only four individual shareholders, compute the following: Adjusted ordinary gross income and Personal holding company income
What happens to excess pyruvate after heavy exercise : What happens to excess pyruvate after heavy exercise? (Becuase flow of glucose through the glycolytic pathway can greatly exceed the capacity of the TCA cycle)
Risk of given stock for stock market pricing is measured : The “relevant” risk of a given stock for stock market pricing is measured by:
How is the rate of glycolysis controlled : Mention the reaction steps and corresponding enzymes that are subjected to regulation and the biochemical and thermodynamic basis of glycolysis control.
Constant fragmentation and release of dna as cells decompose : How does genetic transformations improve our quality of life? How could they decrease our quality of life?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd