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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:
Cost of sales
Other income (loss):
© 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
Total interest 18,000
98,000 $ 3,000
5,200 Dividends arose from the following sources:
Taxable domestic corporation
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.
- Fall '10
- The Land