subject
Business, 18.06.2021 01:10 brazilmade1

Dunne, Inc., a U. S. corporation, earned $500,000 in total taxable income, including $50,000 in foreign-source taxable income from its branch manufacturing operations in Brazil and $20,000 in foreign-source income from interest earned on bonds issued by Dutch corporations. Dunne paid $25,000 in Brazilian income taxes and $3,000 in Dutch income taxes. Dunne's U. S. tax rate is 21%. a. The FTC limit related to the Brazilian manufacturing branch is $ and of this amount, Dunne is allowed $___.
b. The FTC limit related to the Dutch bonds is $ and of this amount Dunne is allowed $.
c. Dunne's U. S. tax liability (after any available FTC) is $.
d. Dune has a $carryforward or carryback in the general limitation basket.

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 04:00
Wallis company manufactures only one product and uses a standard cost system. the company uses a predetermined plantwide overhead rate that relies on direct labor-hours as the allocation base. all of the company's manufacturing overhead costs are fixed—it does not incur any variable manufacturing overhead costs. the predetermined overhead rate is based on a cost formula that estimated $2,886,000 of fixed manufacturing overhead for an estimated allocation base of 288,600 direct labor-hours. wallis does not maintain any beginning or ending work in process inventory.
Answers: 2
question
Business, 22.06.2019 08:00
How do communism and socialism differ in terms of the role that government plays in the economy ?
Answers: 1
question
Business, 22.06.2019 17:50
Which of the following is an element of inventory holding costs? a. material handling costs b. investment costs c. housing costs d. pilferage, scrap, and obsolescence e. all of the above are elements of inventory holding costs.
Answers: 1
question
Business, 22.06.2019 20:20
Carmen’s beauty salon has estimated monthly financing requirements for the next six months as follows: january $ 9,000 april $ 9,000 february 3,000 may 10,000 march 4,000 june 5,000 short-term financing will be utilized for the next six months. projected annual interest rates are: january 9 % april 16 % february 10 may 12 march 13 june 12 what long-term interest rate would represent a break-even point between using short-term financing and long-term financing?
Answers: 3
You know the right answer?
Dunne, Inc., a U. S. corporation, earned $500,000 in total taxable income, including $50,000 in fore...
Questions
question
Mathematics, 08.10.2020 09:01
question
History, 08.10.2020 09:01
question
Computers and Technology, 08.10.2020 09:01
Questions on the website: 13722367