Question
Snow Corporation owns a 40% interest in Bowl Corporation, a domestic corporation. For the current year, Snow Corporation had gross receipts of $800,000, operating expenses
Snow Corporation owns a 40% interest in Bowl Corporation, a domestic corporation. For the current year, Snow Corporation had gross receipts of $800,000, operating expenses of $650,000, and dividend income of $100,000 from Bowl Corporation. What is Snow Corporations dividends-received deduction for the current year?
answer is 65,000 I just can't get it and I know its not 650,000/100,000
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Managerial Accounting An Introduction To Concepts Methods And Uses
Authors: Michael W. Maher, Clyde P. Stickney, Roman L. Weil, Sidney Davidson
7th Edition
0030259630, 978-0030259630
