Ask Question
BusinessBusiness
8 February, 01:54

Greenco, a u. s. corporation, earns $25 million of taxable income from u. s. sources and $10 million of taxable income from foreign sources. what amount of taxable income does greenco report on its u. s. tax return?

+5
Answers (1)
  1. 8 February, 05:53
    0
    Taxable income is the sum of income used to compute a person's or a business's income tax due. Taxable income comprises salaries, pays, bonuses and tips, on top of investment revenue and unearned revenue. In this case, the corporation have $25 million that came from US Sources then the additional $10 million is also part of the taxable income because it is part of the normal course of the business. Therefore, GreenCo must report $35 million.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Greenco, a u. s. corporation, earns $25 million of taxable income from u. s. sources and $10 million of taxable income from foreign ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
In insurance, underwriting refers to which of the following? A. Deciding where to invest life insurance premiums B. All of the answers provided are correct C. Converting a term policy to a whole life policy D.
Answers (1)
Great Harvest Bakery purchased bread ovens from New Morning Bakery. New Morning Bakery was closing its bakery business and sold its two-year-old ovens at a discount for $697,000.
Answers (1)
Pravis Corporation owns 30% of Kuster Corporation. Pravis Corporation received $9,000 in cash dividends from Kuster Corporation. The entry to record receipt of these dividends is
Answers (1)
What is the inverse of confidentiality, integrity, and availability (C. I. A.) triad in risk management? A. misuse, exposure, destruction B. authorization, non-repudiation, integrity C. disclosure, alteration, destruction D.
Answers (1)
What type of Web implementations have the ability to contextualize data so that computers can perform tasks associated with finding, sharing and combining information on the Web without human intervention?
Answers (1)
New Questions in Business
A salesperson receives a weekly salary of $500. In addition, $5 is paid for every item sold in excess of 200 items. How much extra is received from the sale of 215 items?
Answers (1)
The Market Outlet has a beta of 1.38 and a cost of equity of 14.945 percent. The risk-free rate of return is 4.25 percent. What discount rate should the firm assign to a new project that has a beta of 1.25?
Answers (1)
Mickey, Mickayla, and Taylor are starting a new business (MMT). To get the business started, Mickey is contributing $200,000 for a 40 percent ownership interest, Mickayla is contributing a building with a value of $200,000 and a tax basis of
Answers (1)
On January 1, 2021, Corvallis Carnivals borrows $10,000 to purchase a delivery truck by agreeing to a 6%, three-year loan with the bank. Payments of $304.22 are due at the end of each month, with the first installment due on January 31, 2021.
Answers (1)
Runner's warehouse purchased digital watches for $92.99. its markup rate is 25% based on the selling price. what is the selling price
Answers (1)
Home » Business » Greenco, a u. s. corporation, earns $25 million of taxable income from u. s. sources and $10 million of taxable income from foreign sources. what amount of taxable income does greenco report on its u. s. tax return?
Sign Up Forgot Password?