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DIA [1.3K]
3 years ago
12

Which of the following is not true in regard to selling fixed assets?

Business
1 answer:
hichkok12 [17]3 years ago
5 0
Your answer is C. Accumulated Depreciation will be credited. :D
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Stacey and Andrew each own one-half of the stock in Parakeet Corporation, a calendar year taxpayer. Cash distributions from Para
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Answer:

Option 3

Explanation:

Earnings & profits (E&P) is the measure of a corporation’s economic ability to pay dividends to its shareholders. An up-to-date E&P calculation is important for many corporate transactions, including determining whether a distribution to shareholders is a taxable dividend.

The E&P allocated to Andrew's distribution

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= 48,000

Option C

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You might want to check out Pensacola State college for a good look.
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