A owns 25 of the stock in b corporation which earned 20000

Assignment Help Accounting Basics
Reference no: EM13597464

A owns 25% of the stock in B corporation, which earned $20,000 in the current year. A also owns a 25% interest in a partnership, which also earned $20,000 during the year. The corporation did not pay out any dividends, and the partnership did not make any distributions. How much income does A report from each of his businesses?

Reference no: EM13597464

Questions Cloud

Prepare the production departments flexible budget : prepare the production departments flexible budget performance report for march including both the activity and
Given the internet and the wide dispersal of information : given the internet and the wide dispersal of information that exists today should auditors also be held liable for
The overall revenue and spending variance ie the variance : vandall corporation manufactures and sells a single product. the company uses units as the measure of activity in its
N is a sole proprietor of a business in the current year : n is a sole proprietor of a business. in the current year the business had gross income of 15000 and operating expenses
A owns 25 of the stock in b corporation which earned 20000 : a owns 25 of the stock in b corporation which earned 20000 in the current year. a also owns a 25 interest in a
Y company is owned as a sole proprietorship by z who has : y company is owned as a sole proprietorship by z who has made 5000 of withdrawals during the year from y. y had
The lfm company makes and sells a single product product t : the lfm company makes and sells a single product product t. each unit of product t requires 1.3 hours of direct labor
G owns a sole proprietorship while h is the 100 shareholder : g owns a sole proprietorship while h is the 100 shareholder of a corporation. the businesses in the current year make a
On january 1 2008 mcelroy company purchased a building and : on january 1 2008 mcelroy company purchased a building and equipment that have the following useful lives salvage

Reviews

Write a Review

Accounting Basics Questions & Answers

  Government departments should take audit report seriously

government departments should take audit report seriously by preparing annual financial statement on time.based on the

  Discuss why adjusting entries are necessary explain the

you are an accountant in a medium-sized manufacturing company. you have been asked to mentor an accounting clerk who is

  Direct materials used 29000 direct labor 17000 variable

company has no beginning and ending inventories and reports the following information about its only productdirect

  Schuman corporation produces microwave units the following

schuman corporation produces microwave units. the following per-unit cost information is available direct materials 37

  Addison company can sell inventory item pqwr213 for 20 per

addison company can sell inventory item pqwr213 for 20 per unit. the original cost of the unit is 18. currently the

  Kandris corporation had a balance in accounts receivable of

kandris corporation had a balance in accounts receivable of 600000 and a balance in allowance for doubtful accounts of

  Determine the due date of the note

Determine the due date of the note and determine the maturity value of the note.

  Calculate total contribution of the most profitable product

scarce resources long beach currently manufactures 3 products with information as followsa b cselling price 56 25

  Charitable contribution in excess

For purposes of determining current E&P, which of the following items cannot be deducted in the year incurred?

  Deducting for a contribution to a traditional ira

Sammy, age 31, is unmarried and is not an active participant in a qualified retirement plan. His modified AGI is $55,000 in 2010. The maximum amount that Sammy can deduct for a contribution to a traditional IRA is:

  What personnell records would you suggest for a small

what personnell records would you suggest for a small retailer with three employees? what sets the minimum wage and

  Prepare a production budget

They also have a policy of maintaining a raw material inventory at the end of each month equal to 20% of the pounds needed for the following month's production. There were 3,920 pounds of raw material on hand at Dec. 31, 2010, For the first quarter o..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd