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  3. he dawg corporation owns 17% of company a and 23%

he Dawg corporation owns 17% of Company A and 23% of Company B. Dividends received...

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Accounting

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he Dawg corporation owns 17% of Company A and 23% of Company B. Dividends received from Company A were $121,000 and from Company B were $242,000. If Dawg's "adjusted"taxable income is $2,000,000, calculate Dawg's taxable income after including the dividend information. Answer is complete but not entirely correct. A B D E 1 2 Taxable income $ 208,470 3 4 5 6 7 B 9 10 Flip's Pizzeria Inc. has the following financial items for the current year: Adjusted Taxable income before Interest $7,300,000 Interest Income $85,000 Business Interest Expense $150,000 Calculate Flip's tax liability for the current year. Answer is complete but not entirely correct. A B D E 1 Taxable Liability s 2 3 125,000 4 5 6 7 CO 9 10 Flip's Pizzeria Inc. has the following financial items for the current year: Adjusted Taxable income before Interest $26,500,000 Business Interest Income $850,000 Interest Expense $16,600,000 How much interest expense can Flip deduct in the current year? X Answer is complete but not entirely correct. A B D E 1 2 Interest Expense Deduction $ 125,000 5 6 7 8 9 10

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