ParentCo and SubCo had the following items of income and deduction for the current year. Compute ParentCo and SubCo's taxable income or loss computed on a separate basis.
ParentCo SubCo
A) $85,000 $5,000
B) $85,000 $3,000
C) $85,500 $5,000
D) $85,500 $3,000
E) None of the above.

Question

ParentCo and SubCo had the following items of income and deduction for the current year.  Compute ParentCo and SubCo's taxable income or loss computed on a separate basis.
ParentCo SubCo
A) $85,000 $5,000 
B) $85,000 $3,000 
C) $85,500 $5,000 
D) $85,500 $3,000 
E) None of the above.

Quizplus · Accepted Answer

The Answer of ParentCo and SubCo had the following items of income and deduction for the current year.  Compute ParentCo and SubCo's taxable income or loss computed on a separate basis.
ParentCo SubCo
A) $85,000 $5,000 
B) $85,000 $3,000 
C) $85,500 $5,000 
D) $85,500 $3,000 
E) None of the above.

ParentCo and SubCo Had the Following Items of Income and Deduction