Solution:-
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80%*taxable income of $44,700($223500-$312900+$134100)=$31290
80%*taxable income of $86,700($223500-$822900+$134100)=$175,224
No resultsOptions Exercise 3-27 (Algorithmic) (LO. 2) Crane and Loon Corporations, two unrelated C corporations, have...
Crane and Loon Corporations, two unrelated C corporations, have the following transactions for the current year. Crane Loon $231,000 $369,600 Gross income from operations Expenses from operations Dividends received from domestic corporations (15% ownership) 388,080 323,400 138,600 277,200 Click here to access the dividends received deduction table. a. Compute the dividends received deduction for Crane Corporation. $ b. Compute the dividends received deduction for Loon Corporation. $
Crane and Loon Corporations, two unrelated C corporations, have the following transactions for the current year Crane Loon Gross income from operations Expenses from operations Dividends received from domestic corporations (15% ownership) $186,000 260,400 111,600 $297,600 312,480 223,200 Click here to access the dividends received deduction table. a. Compute the dividends received deduction for Crane Corporation. b. Compute the dividends received deduction for Loon Corporation. $ EXHIBIT 3.2 Dividends Received Deduction Percentage of Ownership by Corporate Shareholder Deduction Percentage 50%...
Exercise 17-24 (Algorithmic) (LO. 2) Crane and Loon corporations, two unrelated C corporations, have the following transactions for the current ye Crane Loon Gross income from operations Expenses from operations Dividends received from domestic corporations (15% ownership) $298,500 417,900 179,100 $477,600 501,480 358,200 Click here to access the dividends received deduction table. a. Compute the dividends received deduction for Crane Corporation. x b. Compute the dividends received deduction for Loon Corporation.
Exercise 12-7 (LO. 7) Crane and Loon Corporations, two unrelated C corporations, have the following transactions for the current year. Gross income from operations Expenses from operations Dividends received from domestic corporations (15% ownership) stic corporations (15% ownership) Crane $180,000 255,000 100,000 Loon $300,000 310,000 230,000 Click here to access the dividends received deduction table. a. Compute the dividends received deduction for Crane Corporation. $ 50,000 b. Compute the dividends received deduction for Loon Corporation.
Crane and Loon Corporations, two unrelated C corporations, have the following transactions for the current year. Crane Loon Crane Loon Gross income from operations $286,000 $457,600 Expenses from operations 400,400 480,480 Dividends received from domestic corporations (15% ownership) 171,600 343,200 a. Compute the dividends received deduction for Crane Corporation. $_________ b. Compute the dividends received deduction for Loon Corporation. $_______
Crane and Loon corporations, two unrelated C corporations, have the following transactions for the current year: Crane Loon Gross income from operations $263,500 $421,600 Expenses from operations 368,900 442,680 Dividends received from domestic corporations (15% ownership) 158,100 316,200 a. Compute the dividends received deduction for Crane Corporation. b. Compute the dividends received deduction for Loon Corporation.
Crane and Loon Corporations, two unrelated C corporations, have the following transactions for the current year Crane Loon Gross income from operations Expenses from operations Dividends received from domestic corporations (15% ownership) $186,000 260,400 111,600 $297,600 312,480 223,200 Click here to access the dividends received deduction table. a. Compute the dividends received deduction for Crane Corporation. b. Compute the dividends received deduction for Loon Corporation. $
Crane and Loon corporations, two unrelated calendar year C corporations, have the following transactions for the current year: Crane Loon Gross income from operations $180,000 $300,000 Expenses from operations 255,000 310,000 Dividends received from domestic corporations (15% ownership) 100,000 230,000 a. Compute the dividends received deduction for Crane Corporation. b. Compute the dividends received deduction for Loon Corporation.
Crane and Loon Corporations, two unrelated C corporations, have the following transactions for the current year. Crane Loon Gross income from operations $276,000 $441,600 Expenses from operations 386,400 463,680 Dividends received from domestic corporations (15% ownership) 165,600 331,200 Click here to access the dividends received deduction table. a. Compute the dividends received deduction for Crane Corporation. $ 38,640 x Þ. Compute the dividends received deduction for Loon Corporation. 216,384 X
In each of the following independent situations, determine the dividends received deduction for the calendar year C corporation. The Rose Corporation owns 15%, Pansy owns 10% and Daffodil owns 55% of the stock in the corporations paying the dividends. Rose Corporation Pansy Corporation Daffodil Corporation Income from operations $1,200,000 $1,200,000 $1,200,000 Expenses from operations (800,000) (1,300,000) (1,500,000) Qualifying dividends 400,000 400,000 400,000 The dividends received deduction for Pansy Corporation is EXHIBIT 12.5 Dividends Received Deduction Percentage of Ownership by Corporate...