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  3. on january 1 of the current year, rhondell corpora

On January 1 of the current year, Rhondell Corporation holds accumulated E &P of $62,000....

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Accounting

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On January 1 of the current year, Rhondell Corporation holds accumulated E &P of $62,000. Current E&P for the year is $186,000, earned evenly throughout the year. Elizabeth and Jonathan are the sole equal shareholders of Rhondell from January 1 to April 30 . On May 1 , Elizabeth sells all of her stock to Marshall. Rhondell makes two distributions to shareholders during the year, as indicated below. Analyze the distributions by completing the table that follows. Assume that the shareholders have sufficient basis in their stock for any amount that is treated as return of capital. If an amount is zero, enter " 0". If required, round any division to two decimal places and use in subsequent computations. Round final answers to the nearest dollar

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