This year, jiang, the sole shareholder of a calendar year s corporation, received a distribution of $17,000. on december 31 of the prior year, his stock basis was $3,000. the corporation earned $12,000 ordinary income during the year. it has no accumulated e& p. which statement is correct? ignore the 2090 qb1 deduction.
a. jiang's ordinary income is $15,000.
b. jiang recognizes a $2,000 ltcg.
c. jiang's stock basis will be $2,000.
d. jiang's return of capital is $11,000.

How would you cite different books by the same author on the works cited page? a. moore, jack h. folk songs and ballads. salem: poetry press, 1999. print. moore, jack h. ballads in poetry – a critical review. dallas: garden books, 1962. print. b. moore, jack h. folk songs and ballads. salem: poetry press, 1999. print. –––. ballads in poetry – a critical review. dallas: garden books, 1962. print. c. moore, jack h. ballads in poetry – a critical review. dallas: garden books, 1962. print. moore, jack h. folk songs and ballads. salem: poetry press, 1999. print. d. moore, jack h. ballads in poetry – a critical review. dallas: garden books, 1962. print. –––. folk songs and ballads. salem: poetry press, 1999. print.

Which alternative accounting method allows farmers to record expenses and incomes in the year in which they sell their yield? gaap allows for the method, which permits farmers to subtract the expenses of producing the crop in the year in which they sell the yield and earn the revenue.

Why does an organization prepare a balance sheet? a. to reveal what the organization owns and owes at a point in time b. to reveal how well the company utilizes its cash c. to calculate retained earnings for a given accounting period d. to calculate gross profit for a given accounting period