Rich. A. $250,000 b. $330,000 c. $345,000 d. $380,000 [CPA 11-94] 15 Charlotte Corporation and Raleigh Corporation are each owned 100% by Ms. Included in the net income were the following items: Dividend income from a 10% owned domestic taxable corporation $50,000 Bad debt expense (represents the increase in the allowance for doubtful accounts) 80,000 Assuming no bad debt was written off, what is Kelly”s taxable income for 2008? A. $250,000 b. $330,000 c. $345,000 d. $380,000 [CPA 11-94] 15 Charlotte Corporation and Raleigh Corporation are each owned 100% by Ms.
Charlotte and Raleigh Corporation
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