Business, 18.12.2019 23:31 ayoismeisalex

At the end of the year, before distributions, bombay (an s corporation) has an accumulated adjustments account balance of $20,000 and accumulated e& p of $26,250 from a previous year as a c corporation. during the year, nicolette (a 40 percent shareholder) received a $26,250 distribution (the remaining shareholders received $39,375 in distributions). (assume her stock basis is $52,500 after considering her share of bombay’s income for the year but before considering the effects of the distribution.) required: what is the amount and character of gain nicolette must recognize from the distribution? what is her basis in her bombay stock at the end of the year?

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 20:20

Jimmy owns an ice cream parlor. he designs a schedule for the different tasks the employees have to perform in order to prevent monotony at work. according to the schedule, if an employee makes waffle cones on a day, he serves ice creams the next day and clears the tables on the day after that. jimmy is using the approach at his ice cream parlor.

Answers: 2

Answer

Business, 22.06.2019 07:40

Alicia has a collision deductible of $500 and a bodily injury liability coverage limit of $50,000. she hits another driver and injures them severely. the case goes to trial and there is a verdict to compensate the injured person for $40,000 how much does she pay?

Answers: 1

Answer

Business, 22.06.2019 08:30

Which of the following is an example of search costs? a.) driving to a faraway place to find available goods b.) buying goods in some special way that is outside the normal channels c.) paying a premium cost for goods d.) selling extra goods for a discount price

Answers: 1

Answer

Business, 22.06.2019 11:30

Leon and sara are arguing over when the best time is to degrease soup. leon says that it's easiest to degrease soup when it's boiling. sara says it's easiest to degrease soup when it's cold. who is correct? a. neither leon nor sara is correct. b. leon is correct. c. both leon and sara are correct. d. sara is correct. student b incorrect which following answer correct?

Answers: 1

Answer

You know the right answer?

At the end of the year, before distributions, bombay (an s corporation) has an accumulated adjustmen...

Questions