FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Determine the amount of the dividends received deduction in each of the following instances. In all cases, the net income figure includes the full dividend. Use Dividends deduction table.
- Dividend of $11,500 from a 45% owned corporation; taxable income before DRD of $54,500.
- Dividend of $19,900 from a 15% owned corporation; taxable income before DRD of $78,000.
- Dividend of $13,000 from a 60% owned corporation; taxable income before DRD of $7,000.
- Dividend of $3,500 from a 10% owned corporation; taxable income before DRD of $2,760.
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