Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 560,000 ans 780,000 are wrong please read carefull

560,000 ans 780,000 are wrong please read carefully USCo manufactures...

70.2K

Verified Solution

Question

Accounting

560,000 ans 780,000 are wrong
please read carefully image
image
USCo manufactures and markets electrical components. USCo operates outside the United States through a number of CFCs, each of which is organized in a different country. These CFCs derlved the following income for the current year Determine the amount of income that USCo must report as a deemed dividend under subpart F in each scenario. Note: Leave no answer blank. Enter zero if applicable. Round your final answer to 1 decimal place. Problem 24-59 Part a (Algo) a. F1 has gross income of $14.00 million, including $560,000 of foreign personal holding company interest and $13.30 million of gross income from the sale of inventory that F1 manufactured at a factory located within its home country. b. F2 has gross income of $8.6 million, including $6.88 million of foreign personal holding company interest and $1.72 million of gross income from the sale of inventory that F2 manufactured at a factory located within its home country

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

A store has 5 years remaining on its lease in a mall. Rent is $2,000 per...

Physics
1.2K views

A 2.90-kg ball, moving to the right at a velocity of +1.53 m/s on a frictionless...

Biology
1.2K views

Which of the following is seen when a multicellular organism has many specialized cell types...

Basic Math
1.2K views

Solve the triangle a 8 b 6 C 70 CO 6 A C Round to...

Basic Math
1.2K views

A slide on a playground rises at a 45 angle. The top of the slide...

Calculus
1.2K views

Consider the curve parameterized by: x =2t^3/2 - 1 and y = 5t.(a.) Find an...

Accounting
1.2K views

calculate the missing amounts Calculate the missing amounts

Accounting
1.2K views

please help with part 2 , preparing the budget. Thank you! ...

Accounting
1.2K views

Which one of the following costs is "inventoriable"? a) Indirect material costs b) Administrative costs...

Accounting
1.2K views

A company manufactures three products using the same production process. The costs incurred up to...

Accounting
1.2K views

Able & Company CPA is hired by Carla to perform an audit of her business's...

Accounting
1.2K views

Shoe Shock Innovations manufactures athletic shoe inserts that cushion the foot and reduce the impact...