Lejeune inc. an s corporation in boone north carokina, Ask an Expert

Accounting

Lejeune, Inc., an S corporation in Boone, north carokina, reports operating revenue of $400,000, taxable interest of $380,000, operating expenses of $250,000, and deductions attributable to the interest income of $140,000. Lejeunne's accumulated E&P amounts ot $2 million. Calculate any penalty tax payable by Lejeune or its shareholders.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9447059

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