Beginning in 2010 the aaa of amit inc. an s corporation has, Ask an Expert

Accounting

Beginning in 2010, the AAA of Amit, Inc., an S corporation, has a balance of $725,000. During the year, the following items occur.

Operating income $472,000
Interest income 6,500
Dividend income 14,050
Municipal bond interest income 6,000
Long-term capital loss from sale of investment land 7,400
Charitable contributions 19,000
Cash distributions to shareholders 57,000

what is Amit's ending AAA balance ?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M979539

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