Green Corporation, a closely held operating corporation, reports the following:
$\begin{array}{ll}
\text { Taxable income } & \$ 200,000 \
\text { Long-term capital gain } & 30,000 \
\text { Dividends-received deduction } & 20,000 \
\text { Federal income taxes on long-term capital gain } & 11,700 \
\text { Accumulated earnings credit } & 80,000 \
\text { Federal income taxes } & 65,150
\end{array}$ Calculate Green's accumulated taxable income.

Question

Green Corporation, a closely held operating corporation, reports the following:
 $\begin{array}{ll}
\text { Taxable income } & \$ 200,000 \
\text { Long-term capital gain } & 30,000 \
\text { Dividends-received deduction } & 20,000 \
\text { Federal income taxes on long-term capital gain } & 11,700 \
\text { Accumulated earnings credit } & 80,000 \
\text { Federal income taxes } & 65,150
\end{array}$ Calculate Green's accumulated taxable income.

Quizplus · Accepted Answer

The Answer of Green Corporation, a closely held operating corporation, reports the following:
 $\begin{array}{ll}
\text { Taxable income } & \$ 200,000 \
\text { Long-term capital gain } & 30,000 \
\text { Dividends-received deduction } & 20,000 \
\text { Federal income taxes on long-term capital gain } & 11,700 \
\text { Accumulated earnings credit } & 80,000 \
\text { Federal income taxes } & 65,150
\end{array}$ Calculate Green's accumulated taxable income.

Green Corporation, a Closely Held Operating Corporation, Reports the Following