Kinney, inc., an electing s corporation, holds $5,000 of aep and $9,000 in aaa at the beginning of the calendar tax year. kinney has two shareholders, eric and maria, each of whom owns 500 shares of kinney's stock. kinney's taxable income is $6,000 for the year. kinney distributes $6,000 to each shareholder on february 1, and it distributes another $3,000 to each shareholder on september 1. how is eric taxed on the distribution? (a) $500 dividend income.(b) $1,000 dividend income.(c) $1,500 dividend income.(d) $3,000 dividend income.(e) none of the above.
Answers: 3
Business, 21.06.2019 23:00
Which of the following statements about the relationship between economic costs and accounting costs is true? multiple choice accounting costs are equal to or greater than economic costs. accounting costs must always equal economic costs. accounting costs are always greater than economic costs. accounting costs are always less than or equal to economic costs.
Answers: 2
Business, 22.06.2019 11:10
Use the following account numbers and corresponding account titles to answer the following question. account no. account title (1) cash (2) merchandise inventory (3) cost of goods sold (4) transportation-out (5) dividends (6) common stock (7) selling expense (8) loss on the sale of land (9) sales which accounts would appear on the income statement?
Answers: 3
Business, 22.06.2019 23:00
The era of venture capitalists doling out large sums of money to startups is a. just beginning b. on the rise c. over d. fading
Answers: 2
Business, 22.06.2019 23:00
Investors who put their own money into a startup are known as a. mannequins b. obligators c. angels d. borrowers
Answers: 1
Kinney, inc., an electing s corporation, holds $5,000 of aep and $9,000 in aaa at the beginning of t...
Mathematics, 19.11.2020 01:00
Geography, 19.11.2020 01:00
English, 19.11.2020 01:00
History, 19.11.2020 01:00
World Languages, 19.11.2020 01:00
Mathematics, 19.11.2020 01:00
Physics, 19.11.2020 01:00
Geography, 19.11.2020 01:00
Business, 19.11.2020 01:00
Mathematics, 19.11.2020 01:00