Ask Question, Ask an Expert


Ask Accounting Basics Expert

XYZ Corporation distributed to its shareholders a total of $30,000 in cash plus property that had a fair market value of $80,000 and a basis of $60,000. The corporation's earnings and profits were $100,000 on the last day of the year in which the distribution was made after taking into effect any impact of the distribution on the corporation's earnings and profits. How much was the total dividend income received by the shareholders as a result of the distributions made by XYZ Corporation?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M947159

Have any Question? 

Related Questions in Accounting Basics

Descriptionbond valuation the pennington corporation issued

Description BOND VALUATION The Pennington Corporation issued a new series of bonds on January 1, 1990. The bonds were sold at par ($1,000); had a 12% coupon; and mature in 30 years, on December 31, 2019. Coupon payments ...

What evidence would help you evaluate whether or not a

What evidence would help you evaluate whether or not a company does adequate cash planning? Is there any information not available in the company's annual report that would help you make this evaluation?

Discussion questions- intermediate accounting 22please

Discussion Questions- Intermediate Accounting 22 Please answer each of the 4 question compounds in at least 200 words., for an 800 word total paper. Please asnwer them individually. Thank you 1. What is a change in accou ...

Printing and distribution of invoices does not constitute

Printing and distribution of invoices does not constitute an increase in economic resources. On the other hand, can you give examples of what should be included in REA diagram? Remember that REA specifies the domain rule ...

Fbl5030 fundamentals of value creation ion business

FBL5030 Fundamentals of Value Creation ion Business Assignment - Accounting Assignment Requirements- 1.  The following is a list of 10 organisations/companies, one of which will be the subject of your analysis. CODE      ...

Accounting amp the regulatory environmentin the wake of the

Accounting & The Regulatory Environment In the wake of the accounting and finance scandals of the early 2000s, the regulatory environment for businesses changed dramatically to create more accountability and transparency ...

James lives in maryland but works in virginia john lives in

James lives in Maryland but works in Virginia. John lives in Virginia but works in Maryland. John believes he has been taken advantage of by Jim in a business dealing. John has paid Jim a down payment to paint his house ...

Q1 partners a b and c are contemplating using the following

Q1. Partners A, B and C are contemplating using the following profit distribution plan: Salary is to be given to A in the amount of P60,000, with the remainder in an equal rates to all partners. A is guaranteed a minimum ...

Obtain the 2012 10-k annual report for overland storage inc

Obtain the 2012 10-K Annual Report for Overland Storage, Inc. (OVRL). Refer to Note 1 on page F-7. Based on management's discussion in the note, what type of audit report did Overland's audit firm likely issue? In this s ...

Case title subsequent events - disclosure or financial

Case Title: Subsequent Events - Disclosure or Financial Statement Adjustment? Company ABC is a December 31 calendar year-end manufacturer of flammable liquids and powders with its corporate offices in Pennsylvania and ma ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate