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V LAS VBSAS LAND AND WATER COMPANY Detailed computation of Federal Income Tax Accrual for the year 1949 on Combined Operations of L.V.L.& W.Co. Net Profit as per Form 7 December 31, 1949 Additions to Income Accrual of Federal Income Tax - Year 1949 Adjustment of accrual for Federal Income Tax - Year 1948 Taxable Profit on Sales of Real Estate Total Deductions from Income Book Profit on Sales of Real Estate Depletion - Oil Wells Depreciation allowance in excess of acerual on books Total 84 261.85 44 356.69 46.52 44 403.21 3 036.41 47 4.39.62 131 701.47 1 451.95 14 240.49 1 146.01 13 934..55 117 766.92 Less taxable profit on sales of real estate 3 036.41 Total ordinary taxable income 11/. 730.51 Computation of T»y 38% of ordinary taxable income 43 597.59 25$ of taxable profit on sales of real estate 759.10 Total tax accrual 44. 356.69 Auditor’s Office, Omaha, Nebraska, May 1, 1950.
