Question
The following chart shows ownership percentages of Devon Corp. in X, Y and Z Corporations, and dividends received by Devon from these corporations in 2016.
The following chart shows ownership percentages of Devon Corp. in X, Y and Z Corporations, and dividends received by Devon from these corporations in 2016.
|
| Devons Ownership % | Dividend Received |
| X Corp. | 15% | $100,000 |
| Y Corp. | 20% | $120,000 |
| Z Corp. | 30% | $200,000 |
Devon is a calendar-year corporation and received no other dividends in 2016. What amount of dividend income must be included by Devon on its 2016 corporate tax return?
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Standards For The Professional Practice Of Internal Auditing Statements On Internal Auditing Standards Statement Of Responsibilities Of Internal Auditing Code Of Ethics
Authors: Inst
1st Edition
0894133462, 978-0894133466
