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LuckyWell [14K]
3 years ago
13

Lonergan, Inc., a calendar year S corporation in Athens, Georgia, had a balance in AAA of $200,000 and AEP of $110,000 on Decemb

er 31, 2019. During 2020, Lonergan, Inc., distributes $140,000 to its shareholders, while sustaining an ordinary loss of $120,000. Calculate the balance in Lonergan’s AAA and AEP accounts at the end of 2020.
Business
1 answer:
Finger [1]3 years ago
6 0

Answer:

Explanation:

                                                                      AAA                   AEP

Beginning balance, 1/1/20                           200,000        110,000

Less: Distributions                                          (140,000)            (0)

Less: Loss (ordinary)                                  (120,000)            (0)

Ending Balance                                           (60,000)       110,000

Here AAA is adjusted first for the distributions and then for the loss. The negative balance must be restored to a positive before the shareholders may receive any distributions that will not be taxed as dividend income.

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When Mark does not think his manager will assign any more resources to the project, he's exhibiting the barrier of reluctance.

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6 0
2 years ago
Lightfoot Inc., a software development firm, has stock outstanding as follows: 25,000 shares of cumulative preferred 3% stock, $
vaieri [72.5K]

Answer and Explanation:

The computation of the dividend per share for each class of stock for four years are as follows

Preferred stock

= 25,000 shares × $25 × 3%

= $18,750

The dividend per share is

= $18,750 ÷ 25,000 shares

= $0.75

Now for the first year

= $7,250 ÷ 25,000

= $0.29

And the 0 is for Common  stockholders

For the second year  

Preferred stock  

=  $11,750 ÷ $25,000

= $0.47

And the 0 is for Common  stockholders

For the third year

Preferred  stock

= $0.46 + $0.28 + $0.75

= $1.49

And for the Common stockholders

= $27,900 ÷ 31,000  shares

= $0.9

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Preferred stock = $0.75

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4 0
3 years ago
Assume you have a system that does not provide a usleep(unsigned long usec) call to suspend the execution of the thread for a gi
Ilia_Sergeevich [38]

#include <iostream>

#include <time.h>

using namespace std;

//usleep function declaration

void usleep(int microseconds);

//usleep function definition

void usleep(int microseconds) // Cross-platform sleep function

{

clock_t time_end;

time_end = clock() + microseconds * CLOCKS_PER_SEC / 1000000; //as 1 microsecond is 1/1000000 of a second.

while (clock() < time_end);

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int main()

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cout << "Before calling User defined usleep" << endl;

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4 0
3 years ago
You have worked with the research department to implement the research plan. The team has gathered the data, checked it for accu
Kipish [7]

Answer:questionnaire method

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Using questionnaire methods to gather your responses, it would be very imperative and pertinent for your marketing department to utilize them. It is because, your questionnaire will show a well detailed information on your respective research. This would also give room for improvement if needs arises.

6 0
3 years ago
Read 2 more answers
What is the percentage change in the PV of $100 due in 1 year when the interest rate changes from 5% to 10%?
son4ous [18]

Answer:

c. Decreases by 4.5%

Explanation:

Calculation for What is the percentage change in the PV

First step is to calculate the present value when r is 5%

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Second step is to calculate present value when r is 10%

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Percentage change in the PV = - 4.55% (Decrease)

Therefore the Percentage change in the PV Decreases by 4.5%

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