Solution-Compute the taxable income from operations

Compute the taxable income from operations

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Reference no: EM13538787

Black Acres Apartment, Inc needs to compute taxable income (TI) for the preceding year and wants your assistance. The effective gross income (EGI) was $52,000; operating expenses were $19,000; $2,000 was put into a fund for future replacement of stoves and refrigerators; debt service was $26,662, of which $25,126 was interest; and the deprecation deduction was $17,000. Compute the taxable income from operations

Reference no: EM13538787

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Compute the taxable income from operations

Reference no: EM13538787

Reference no: EM13538787

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