Business, 06.05.2020 01:39 2022rickskyye
Windmill Corporation, a Dutch corporation, is owned by the following unrelated persons: 50 percent by a U. S. corporation, 5 percent by a U. S. individual, and 45 percent by a Swiss corporation. During the year, Windmill earned $2,000,000 of subpart F income. Which of the following statements is true about the application of subpart F to the income earned by Windmill?
A) Windmill is a CFC and the U. S. corporation and U. S. individual will have a deemed dividend of $1,000,000 and $100,000, respectively.
B) Windmill is a CFC and only the U. S. corporation will have a deemed dividend of $1,000,000.
C) Windmill is a CFC and the U. S. corporation, U. S. individual, and Swiss corporation will have a deemed dividend of $1,500,000, $100,000, and $900,000, respectively.
D) Windmill is not a CFC and none of the shareholders will have a deemed dividend under subpart F.
Answers: 1
Business, 21.06.2019 17:10
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Business, 22.06.2019 19:00
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Business, 22.06.2019 20:00
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Business, 22.06.2019 20:30
Exercise 7-7 martinez company reports the following financial information before adjustments. dr. cr. accounts receivable $168,900 allowance for doubtful accounts $3,200 sales revenue (all on credit) 849,300 sales returns and allowances 50,440 prepare the journal entry to record bad debt expense assuming martinez company estimates bad debts at (a) 4% of accounts receivable and (b) 4% of accounts receivable but allowance for doubtful accounts had a $1,550 debit balance. (if no entry is required, select "no entry" for the account titles and enter 0 for the amounts. credit account titles are automatically indented when the amount is entered. do not indent manually.)
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Windmill Corporation, a Dutch corporation, is owned by the following unrelated persons: 50 percent b...
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