Can I have some help?

At the beginning of the year, Oak Corp. (an S corporation) had $50,000 in its AAA, $30,000 of earnings and profits from prior C

Hunter-Best [27]

Answer:

$20,000

Explanation:

Calculation to determine How much income does Ethan recognize this year from these transactions

First step is to calculate the share of ordinary income Amount

Share of ordinary income amount=$25,000 × 25%

Share of ordinary income amount=$6,250

Second step is to calculate AAA distribution

AAA distribution=[$50,000 + $25,000] × 25%]-[$30,000-($50,000 + $25,000 × 25%)]-

AAA distribution =$18,750-$11,250

AAA distribution=$7,500

Third step is to calculate the distribution treated as dividend

Distribution treated as dividend= $25,000 × 25%

Distribution treated as dividend= $6,250

Now let calculate the income recognized

Income recognized=$6,250+$7,500+$6,250

Income recognized=$20,000

Therefore How much income does Ethan recognize this year from these transactions is $20,000

3 0

2 years ago

Bingo Corp. signed a promissory note of $1,000 for one of its vendors in exchange for supplies. $100 cash payment is due upon si

otez555 [7]

Answer:

The answer is: C) Debit supplies $1,000; credit cash $100 and credit notes payable $900

Explanation:

When assets increase, they are debited - so Supplies account should be debited.

Dr Supplies 1,000

When assets decrease, they are credited - so Cash account should be credited.

Cr Cash 100

When liabilities increase, they are credited - so Notes Payable should be credited.

Cr Notes Payable 900

3 0

2 years ago

¿Por qué implantar el DO en una organización?

marysya [2.9K]

Answer:

Explanation:

8 0

2 years ago

What is the term that describes the spreading of materials, money, and human resources to get work done in the most economical a

Butoxors [25]

Resource allocation - Apex answer

6 0

2 years ago

Read 2 more answers

If there are too few respondents in the lowest income category, this category may be combined or merged with the next lowest cat

Nostrana [21]

Answer: E) Recoding

Explanation:

Recoding refers to the changing of a variable to better suit the needs for which the variable is being collected.

The variable's parameters can be redefined using recoding to either include more information or less so that the result can be more reflective of the situation on ground.

In mixing the lowest income category with the next lowest, recoding would have occurred.

5 0

2 years ago