69. The following information pertains to BT21 Co. for the year. · Net assets, Jan.1, 2021- P1,008,480 · Net assets, Dec. 31. 2021- P2,112,960 · Share capital issued in 2021- P335,520 · Dividends declared in 2021- P195,120 How much is the profit (loss)?

69. The following information pertains to BT21 Co. for the year. · Net assets, Jan.1, 2021- P1,008,480 · Net assets, Dec. 31. 2021- P2,112,960 · Share capital issued in 2021- P335,520 · Dividends declared in 2021- P195,120 How much is the profit (loss)?

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter5: Corporations: Earnings & Profits And Dividend Distributions

Section: Chapter Questions

Problem 31P

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Fisafolia Corporation has gross income from operations of $210,000 and operating expenses of $160,000 for 2019. The corporation also has $30,000 in dividends from publicly traded domestic corporations in which the ownership percentage was 45 percent. Calculate the corporation's dividends received deduction for 2019. $_____________ Assume that instead of $210,000, Fisafolia Corporation has gross income from operations of $135,000. Calculate the corporation's dividends received deduction for 2019. $___________ Assume that instead of $210,000, Fisafolia Corporation has gross income from operations of $158,000. Calculate the corporation's dividends received deduction for 2019. $_____________
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