Deducting a dividends-received deduction, Accounting Basics

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Deducting a dividends-received deduction

ABC Corporation made cash contributions of $35,000 to charitable organizations in 2013. ABC Corporation had taxable income of $280,000 without taking into account its charitable contributions for the taxable year ended December 31, 2013, but after deducting a dividends-received deduction of $34,000. What amount, if any, can ABC Corporation deduct as charitable contributions for 2013?

A. $32,000

B. $31,400

C. $35,000

D. 0

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Accounting Basics: Deducting a dividends-received deduction

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Accounting Basics: Deducting a dividends-received deduction

Reference No:- TGS038950

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Deducting a dividends-received deduction

Reference No:- TGS038950

Recent Questions Asked Accounting Basics

Q : Problem related to corporation stock

Q : Concept of time value of money-corporate managers in general

Q : Derive expression showing that land density as a function

Q : Deducting a dividends-received deduction

Q : Pro and cons of sinking fund from viewpoint

Q : Liability on the property

Q : Interest rate have large-small effect on real exchange rate

Q : Predict effect of higher wood prices on equilibrium price

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