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Home Q & A Board Other Fields Homework Help Business Accounting
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safezone safezone
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7 years ago
Jackel, Inc. has the following information for the current tax year:

Gross sales   $350,000
Cost of goods sold   50,000
Dividends received (10%)   40,000
Operating expenses   30,000
Charitable contributions   45,000

What is Jackel's charitable contribution deduction? What is Jackel's taxable income?
Textbook 
Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts

Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts


Edition: 27th
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That's not philosophy, it's geometry
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genflynngenflynn
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7 years ago
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We have the most crude accounting tools. It's tragic because our accounts and our national arithmetic doesn't tell us the things that we need to know.

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