Ramo corp sol corp stock sold 11094 real estate

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Unformatted text preview: the $400 capital gain distribution from Mutual Fund Corp.) is not deductible for tax purposes. CPA-04377 Type1 M/C 149. CPA-04377 A-R Corr Ans: G PII May 92 #5 (Adapted) 14 PM#55 R 3-99 Page 3 Following is Ral Corp.'s condensed income statement, before federal income tax, for the year ended December 31, 1993: Sales Cost of sales Gross profit Operating expenses Operating income Other income (loss): Interest Dividends $1,000,000 (700,000) 300,000 (220,000) 80,000 $5,200 19,200 88 © 2009 DeVry/Becker Educational Development Corp. All rights reserved. Maxixishere Pdf Collection Becker CPA Review, PassMaster Questions Lecture: Regulation 3 Net long-term capital loss Income before federal income tax (6,400) Additional information: Interest arose from the following sources: U.S. Treasury notes Municipal bonds Total interest 18,000 98,000 $ 3,000 2,200 5,200 Dividends arose from the following sources: Taxable domestic corporation Clove Corp. Ramo Corp. Sol Corp. (stock sold 1/10/94) Real Estate Investm...
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This note was uploaded on 06/14/2013 for the course ACCOUNTING Regulation taught by Professor Becker during the Fall '10 term at Keller Graduate School of Management.

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