Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a corporation had $10,000, of earnings and profits

A corporation had $10,000, of earnings and profits (E&P) for the current year and accumulated...

50.1K

Verified Solution

Question

Accounting

A corporation had $10,000, of earnings and profits (E&P) for the current year and accumulated negative E&P of $100,000. It paid a cash distribution of $30,000. What amount represents the taxable dividend to the shareholder for that year?

a. $100,000

b. $30,000

c. $10,000

d.$0

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Using the method of jones calculus show that the effect of a half wave plate on...

Physics
Q

Question 1. Samples of n = 4 items are taken from a process at regular intervals....

Mechanical Engineering
Q

two issues of securities outstanding: common stock and $5,500,000 face value, 5-year, 3% convertible bonds which...

Accounting
Q

1 A current i is flowing in a hexagonal coil of side I figure The...

Physics
Q

A block of negligible dimensions and mass m is rigidly attached at P to a...

Physics
Q

your answer Type an integer or a fraction

Statistics
Q

Bierce Corporation has two manufacturing departments--Machining and Finishing. The company used the following...

Accounting
Q

cancel

Accounting
Q

Tuba Company, (a merchandising Co) has the following data pertaining to the year ended December...

Accounting
Q

SECTION A (Choose one answer) 1. Wh at type of accounting system is part of...

Accounting
Q

Singh and Danzin is an architectural firm that provides services for residential construction projects. The...

Accounting
Q

E 3-5 Problems from Allocating Facility Support Costs Blaine Avenue Company manufactures three products. Gross...

Accounting