Alsop corporation a calendar year c corp had the following, Financial Accounting

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Alsop corporation a calendar year c corp had the following

Alsop Corporation, a calendar year C Corp, had the following income and expenses in 2015:

Income from Operations $450,000

Expenses from Operations 185,000

Dividends Received (30% ownership) 70,000

Capital Loss Carry back 22,000

Charitable Contribution 115,000

a. What is Alsop Corporation’s charitable deduction for 2015?

b. What happens to the portion that is not deducible, if any?

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Financial Accounting: Alsop corporation a calendar year c corp had the following

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Financial Accounting: Alsop corporation a calendar year c corp had the following

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