User Account

All Pages

How much ordinary income should be allocated

Assignment Help Accounting Basics
Reference no: EM132663605

Problem - The Matthew Corporation, an S corporation, is equally owned by three shareholders-Emily, Alejandra, and Kristina. The corporation is on the calendar year basis for tax and financial purposes. On April 1 of the current year, Emily sold her one-third interest in the Matthew Corporation equally to the other two shareholders. For the current year, the corporation had nonseparately stated ordinary income of $900,000. For the current year, how much ordinary income should be allocated to Kristina on her Schedule K-1?

a. $25,000

b. $75,000

c. $337,500

d. $412,500

Reference no: EM132663605

Questions Cloud

What amount of nonseparately stated income : On the 41st day of year 6, Kane sold 25 of the Manning shares to Rodgers. What amount of nonseparately stated income from Manning should be reported
Basic functions used in encryption algorithms : What are the essential ingredients of a symmetric cipher? What are the two basic functions used in encryption algorithms? What is triple encryption?
What amount of assets was reported in consolidate balance : Balance sheet immediately after the acquisition; what amount of assets was reported in the consolidate balance sheet immediately after the acquisition?
Identify the selected health care service provider : Identify the selected health care service provider. Identify the roles of various stakeholders the selected provider will encounter.
How much ordinary income should be allocated : The corporation had nonseparately stated ordinary income of $900,000. For the current year, how much ordinary income should be allocated
Discuss the theory that refers to the situation : Discuss the theory that's refers to this situation and the degree of influence and control that Company X has over both the companies.
Describe group scenario that you are using for assignment : Briefly describe the group scenario that you are using for the Assignment. Explain the skills necessary to be a successful group facilitator for this population
What amount of the income was allocated : Zinco had nonseparately computed income of $310,250. If no election was made by Zinco, what amount of the income, if any, was allocated
Compute what will the cash flows for the project be : 15 percent, and it expects net working capital to increase by $100,000 at the beginning of the project. What will the cash flows for this project be?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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