On december 31 2013 a corp. sold all its assets to b an, Ask an Expert

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On December 31, 2013, A corp. sold all its assets to B, an unrelated party for $10 million. During 2014, no distributions were made to Joan and Jill who each own 50% of A corp. What problem(s) will result in 2014, if any, assuming A corp is not liquidated or dissolved?

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Category:- Accounting Basics
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