Question
During the current year, Pence Corporation (a calendar year C corporation) has the following transactions Income from operations $350,000 Expenses from operations 370,000 Dividends received
- During the current year, Pence Corporation (a calendar year C corporation) has the following transactions
| Income from operations | $350,000 |
| Expenses from operations | 370,000 |
| Dividends received from CAB Corporation | 60,000 |
Pence Corp owns 25% of CAB Corporations stock. How much is Pence Corporations taxable income (loss) Line 30 of Form 1120 - for the year?
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The Payroll Audit
Authors: Robert Leach
1st Edition
0955970792, 978-0955970795
