Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. routman corporation realized $12,500,000 of taxabl

routman Corporation realized $12,500,000 of taxable income from the sales of its products in States...

70.2K

Verified Solution

Question

Accounting

routman Corporation realized $12,500,000 of taxable income from the sales of its products in States A and B. Troutman's activities in both states establish nexus for income tax purposes. Troutman's sales, payroll, and property in the states include the following: State A State B Total Sales $4,800,000 $2,200,000 $7,000,000 Property $6,000,000 $0 $6,000,000 Payroll $3,400,000 $0 $3,400,000 State B uses a double-weighted sales factor in its three-factor apportionment formula,

In your computations, round any division to four decimal places before converting to a percentage and use rounded amounts in subsequent computations. If required, round your final answer to the nearest dollar. How much of Troutman's taxable income is apportioned to State B?

how much longer time do you need?

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