What amount must Erin take as a distribution

Assignment Help Accounting Basics
Reference no: EM132773457

Question - At the end of 2017, Erin was 74 years old and her traditional IRA had a balance of $300,000. She properly withdrew $12,605 from her IRA in 2018, which was the first year she took a withdrawal. In 2018, her IRA assets earned $37,500. What amount must Erin take as a distribution from her IRA in 2019?

a. $14,768.

b. $13,651.

c. $14,187.

d. Some other amount.

Reference no: EM132773457

Questions Cloud

What are the balances of capital accounts : What are the balances of capital accounts after year 2008 operation? please state the balances use bonus and goodwill method respectively
Compute the company gross profit for the month : During March 2020, Sandhill Company generated sales revenues of $156000. Compute the company's gross profit for the month
Evaluate feedback from colleagues : Explain why it is important for you to actively seek and evaluate feedback from colleagues and customers about how you perform.
Managing your workload or extend your existing skills : What options are available to learn better ways of managing your workload or extend your existing skills. Include any business technology used in the process.
What amount must Erin take as a distribution : At the end of 2017, Erin was 74 years old and her traditional IRA had a balance of $300,000. What amount must Erin take as a distribution
What should the employee do : The owner asks an employee to change the method of estimating bad debits to a flat 3% of receivables. What should the employee do
Outline document and record keeping requirements : Outline document and record keeping requirements associated with workload management.
What is the consolidated net income : William Corp. paid cash of P600,000 for all the outstanding shares of Kate Company. On December 31, 2016, what is the consolidated net income
Prepare general journal entries to record transactions : At that time, the common stock was selling at $60 per share. Prepare the general journal entries necessary to record these transactions

Reviews

Write a Review

Accounting Basics Questions & Answers

  If you were the editor of rethinking the social

if you were the editor of rethinking the social responsibility of business and were rewriting it today what changes

  Liability errors you are the independent auditor engaged

Liability Errors you are the independent auditor engaged to audit Millay Corporation's December 31, 2010, financial statements.

  What oliver recognized loss will be

What Oliver recognized loss will be? Ken, a calendar-year taxpayer, owns 50 shares of Copper Corporation stock, which was purchased two years ago

  Determine and prepare a correct trial balance

Prepare a correct trial balance for Cash received from a customer on account was debited for $570, and Accounts Receivable was credited for the same amount.

  Effort to generate mutual comprehension

Communication can be described as the means by which individuals disperse and transmit meaning in an effort to generate mutual comprehension. This procedure necessitates an immense collection of proficiency in "intrapersonal" and "interpersonal" p..

  When prepaid rent is recognized as an expense

When prepaid rent is recognized as an expense? Prepaid rent decrease, rent expense on the balance sheet increases and equity decreases

  Prepare the statement of cash flows for coronado industries

Presented selected financial information for Coronado Industries - Prepare the statement of cash flows for Coronado Industries

  Evaluate the importance and impact of full disclosure

Evaluate the importance and impact of full disclosure or non-disclosure in accounting practices. Use technology and information resources to research issues.

  Determine the projected ending balance of cash on hand

These amounted to $42,000 in December and $48,000 in January. Use this information to determine the projected ending balance of cash on hand for January

  What is portfolio theory and why is it important to investin

What is portfolio theory and why is it important to investing behavior?

  It costs lannon fields 21 of variable costs and 9 of

it costs lannon fields 21 of variable costs and 9 of allocated fixed costs to produce an industrial trash can that

  Because of the complexity of establishing a bad debt

because of the complexity of establishing a bad debt provision do you think that smaller companies should be allowed to

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