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taxable income of Quince Company

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taxable income of Quince Company;1. Maeda Company has the following employees on the payroll;Employee;Name;Marital;Status;Semimonthly;Payroll;Witholding;Allowances;Amal S $4,000 1;Miguel M $5,000 3;Byron S $4,600 2;Hiroko M $6,500 4;Using the information above;a. Calculate the FUTA tax liability for 2013. Assume that Maeda Company has paid all amounts due during the year.;b. If the payroll is consistent from quarter to quarter, how much would be remitted in FUTA taxes in each of the four quarters in 2013?;2. Quince Company has book income of $120,000 properly determined in accordance with financial accounting principles. The following information is also available;? The company received a $10,000 dividend from a large publicly-traded domestic corporation of which it owns less than 20%.;? Income tax expense on the financial statements was $30,000.;? Depreciation expense on the financial statements is $25,000 less than depreciation expense determined using tax laws.;? The company received life insurance proceeds of $15,000.;? Charitable contributions of $20,000 were made.;Determine the taxable income of Quince Company

 

Paper#31426 | Written in 18-Jul-2015

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