Determining charitable contribution deduction

Assignment Help Accounting Basics

Reference no: EM13150017

Prior to a charitable gift to the Plato University of land with a basis of $6,000 and a value of $13,000, All-Set, Inc. had taxable income of $50,000. If the dividends-received deduction was $80,000, the charitable contribution deduction is:

a. $5,000
b. $6,000
c. $2,925
d. $5,800

Reference no: EM13150017

Questions Cloud

Adam smith rejected utility as a foundation : Adam Smith rejected utility as a foundation for value. He illustrates this rejection in his famous diamonds and water paradox. Briefly explain how the cognitive switch from total utility to marginal utility resolves this paradox.

Type of gain or loss from redemption : On May 1, 2011, $120,000 of the bonds were redeemed at 111. How much, and what type of gain or loss, most likely results from this redemption?

Was you model a more accurate simulation of mitosis : What actual cellular event did you represent by connecting the centrioles to each other with the chromosomes in the middle?

Discuss new ways of marketing : AIU hosts a marketing publication, "The Marketing Scene," which provides a platform for professionals and consumers to discuss new ways of marketing, the effectiveness of advertising trends, specific ad campaigns and the impact this information ha..

Determining charitable contribution deduction : Prior to a charitable gift to the Plato University of land with a basis of $6,000 and a value of $13,000, All-Set, Inc. had taxable income of $50,000. If the dividends-received deduction was $80,000, the charitable contribution deduction is:

Amount of bond issue costs : During the year, Hamlet Inc. paid $23,000 to have bond certificates printed and engraved, paid $150,000 in legal fees, paid $18,000 to a CPA for registration information, and paid $260,000 to an underwriter as a commission. What is the amount of b..

How much sodium 24 will remain : sodium 24 has a half life of 15 hours. how much sodium 24 will remain from a 10.0-g sample after 60 hours?

What is the minimum number of replication units present : DNA (3.5 x 108 base pairs) in diploid cells of Drosophila melanogaster is replicated in about 3 minutes. Assuming that all replication forks move at a constant rate of 104 base pairs per minute, what is the minimum number of replication units pres..

Standard quantity per fruitcake : The loss rate is expected to be 1 ounce of pecans for every 5 ounces inspected. Under traditional standard costing, how many ounces of pecans should Holiday use as a standard quantity per fruitcake?

User Account

All Pages