# Zeto Corporation reports the following results for the current year: Requirement a. What is Zeto's

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Zeto Corporation reports the following results for the current year:

Requirement a. What is Zeto's taxable income for the current year, assuming qualified production activities income is $1,000?

(If a box is not used in the table, leave the box empty; do not enter a zero. Use parentheses or a minus sign for a NOL.)

Part a

Gross profit on sales

Dividends

Gross income

Minus: Operating expenses

Taxable income before dividends-received deduction

Dividends-received deduction

U.S. production activities deduction

Taxable income (NOL)

Requirement b. How would your answer to Part a change if Zeto's

operating expenses are instead $208,000,

assuming qualified production activities income is zero or negative? (If a box is not used in the table, leave the box empty; do not enter a zero. Use parentheses or a minus sign for a NOL.)

Part b

Gross profit on sales

Dividends

Gross income

Minus: Operating expenses

Taxable income before dividends-received deduction

Dividends-received deduction

U.S. production activities deduction

Taxable income (NOL)

Requirement c. How would your answer to Part a change if Zeto's

operating expenses are instead $287,000,

assuming qualified production activities income is zero or negative? (If a box is not used in the table, leave the box empty; do not enter a zero. Use parentheses or a minus sign for a NOL.)

Part c

Gross profit on sales

Dividends

Gross income

Minus: Operating expenses

Taxable income before dividends-received deduction

Dividends-received deduction

U.S. production activities deduction

Taxable income (NOL)

Requirement d. How would your answers to Parts a, b, and c change if

Zeto received $120,000 of the dividends from a 20%-owned corporation and the remaining $40,000

from a less-than-20%-owned corporation?

Begin by re-calculating taxable income (NOL) for Part a assuming Zeto received $120,000

of the dividends from a 20%-owned corporation and the remaining $40,000

from a less-than-20%-owned corporation. Then re-calculate Part b and finally, Part c. (If a box is not used in the table, leave the box empty; do not enter a zero. Use parentheses or a minus sign for a NOL.)

Review your calculations in Requirement a, b, and c above.

LOADING...

Part a

Taxable income before dividends-received deduction

Dividends-received deduction from 20%-owned corporation

Dividends-received deduction from less than 20%-owned corporation

U.S. production activities deduction

Taxable income (NOL)

Part b

Part c

All parts showing

https://uopcourses.com/category/acc-455/

Zeto Corporation reports the following results for the current year:

Requirement a. What is Zeto's taxable income for the current year, assuming qualified production activities income is $1,000?

(If a box is not used in the table, leave the box empty; do not enter a zero. Use parentheses or a minus sign for a NOL.)

Part a

Gross profit on sales

Dividends

Gross income

Minus: Operating expenses

Taxable income before dividends-received deduction

Dividends-received deduction

U.S. production activities deduction

Taxable income (NOL)

Requirement b. How would your answer to Part a change if Zeto's

operating expenses are instead $208,000,

assuming qualified production activities income is zero or negative? (If a box is not used in the table, leave the box empty; do not enter a zero. Use parentheses or a minus sign for a NOL.)

Part b

Gross profit on sales

Dividends

Gross income

Minus: Operating expenses

Taxable income before dividends-received deduction

Dividends-received deduction

U.S. production activities deduction

Taxable income (NOL)

Requirement c. How would your answer to Part a change if Zeto's

operating expenses are instead $287,000,

assuming qualified production activities income is zero or negative? (If a box is not used in the table, leave the box empty; do not enter a zero. Use parentheses or a minus sign for a NOL.)

Part c

Gross profit on sales

Dividends

Gross income

Minus: Operating expenses

Taxable income before dividends-received deduction

Dividends-received deduction

U.S. production activities deduction

Taxable income (NOL)

Requirement d. How would your answers to Parts a, b, and c change if

Zeto received $120,000 of the dividends from a 20%-owned corporation and the remaining $40,000

from a less-than-20%-owned corporation?

Begin by re-calculating taxable income (NOL) for Part a assuming Zeto received $120,000

of the dividends from a 20%-owned corporation and the remaining $40,000

from a less-than-20%-owned corporation. Then re-calculate Part b and finally, Part c. (If a box is not used in the table, leave the box empty; do not enter a zero. Use parentheses or a minus sign for a NOL.)

Review your calculations in Requirement a, b, and c above.

LOADING...

Part a

Taxable income before dividends-received deduction

Dividends-received deduction from 20%-owned corporation

Dividends-received deduction from less than 20%-owned corporation

U.S. production activities deduction

Taxable income (NOL)

Part b

Part c

All parts showing

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