10 - There are 6 questions that relate to this scenario: On January 1 of the current year, Tobin Corporation has accumulated E&P of $188,000. Current E&P for the year is $564,000, earned evenly throughout the year. Maggie and Torri are sole equal shareholders of Tobin Corporation from January 1 to April 30. On May 1, Maggie sells all of her stock to Carter. Tobin Corporation makes two distributions to shareholders during the year: $300,800 ($150,400 to Maggie and $150,400 to Torrri) on April 30 and $526,400 ($263,200 to Torri and $263,200 Carter) on December 31. Total distributions are 827,200. Assume that the shareholders have sufficient basis in their stock. NOTE: When calculating the "current E&P allocated to a distribution" ROUND THE PERCENT 2 DECIMALS, before taking it times the the current E&P amount. (for example.2778 would be 28%). How much of the April Distribution will come from Current E&P? 564.000 300,800 203,040 827,200 11 - On January 1 of the current year, Tobin Corporation has accumulated E&P of $188,000. Current E&P for the year is $564,000, earned evenly throughout the year. Maggie and Torri are sole equal shareholders of Tobin Corporation from January 1 to April 30. On May 1, Maggie sells all of her stock to Carter. Tobin Corporation makes two distributions to shareholders during the year: $300,800 ($150,400 to Maggie and $150,400 to Torrri) on April 30 and $526,400 ($263,200 to Torri and $263,200 Carter) on December 31. Total distributions are 827,200. Assume that the shareholders have sufficient basis in their stock. NOTE: When calculating the "current E&P allocated to a distribution" ROUND THE PERCENT 2 DECIMALS, before taking it times the the current E&P amount. (for example.2778 would be 28%). How much of the April distribution will come from Accumulated E&P? 97,760 188,000 150,400 95,700 12 - On January 1 of the current year, Tobin Corporation has accumulated E&P of $188,000. Current E&P for the year is $564,000, earned evenly throughout the year. Maggie and Torri are sole equal shareholders of Tobin Corporation from January 1 to April 30. On May 1, Maggie sells all of her stock to Carter. Tobin Corporation makes two distributions to shareholders during the year: $300,800 ($150,400 to Maggie and $150,400 to Torrri) on April 30 and $526,400 ($263,200 to Torri and $263,200 Carter) on December 31. Total distributions are 827,200. Assume that the shareholders have sufficient basis in their stock. NOTE: When calculating the "current E&P allocated to a distribution" ROUND THE PERCENT 2 DECIMALS, before taking it times the the current E&P amount. (for example.2778 would be 28%). How much of the April distribution is Return of Capital? 23,000 50.000 eo 138.000 13-On January 1 of the current year, Tobin Corporation has accumulated E&P of $188,000. Current E&P for the year is $564,000, earned evenly throughout the year. Maggie and Torri are sole equal shareholders of Tobin Corporation from January 1 to April 30. On May 1, Maggie sells all of her stock to Carter. Tobin Corporation makes two distributions to shareholders during the year. $300,800 ($150,400 to Maggie and $150,400 to Torrri) on April 30 and $526,400 ($263,200 to Torri and $263,200 Carter) on December 31. Total distributions are 827,200. Assume that the shareholders have sufficient basis in their stock. NOTE: When calculating the current E&P allocated to a distribution" ROUND THE PERCENT 2 DECIMALS, before taking it times the the current E&P amount. (for example.2778 would be 28%). How much of the December distribution will come from Current E&P? o 282,000 o 188,000 97.000 O 360,960 14-On January 1 of the current year, Tobin Corporation has accumulated E&P of $188,000. Current E&P for the year is $564,000, earned evenly throughout the year. Maggie and Torri are sole equal shareholders of Tobin Corporation from January 1 to April 30. On May 1, Maggie sells all of her stock to Carter. Tobin Corporation makes two distributions to shareholders during the year: $300,800 ($150,400 to Maggie and $150,400 to Torrri) on April 30 and $526,400 ($263,200 to Torri and $263,200 Carter) on December 31. Total distributions are 827,200. Assume that the shareholders have sufficient basis in their stock. NOTE: When calculating the "current E&P allocated to a distribution" ROUND THE PERCENT 2 DECIMALS, before taking it times the the current E&P amount. (for example 2778 would be 28%). How much of the December distribution will come from Accumulated E&P? 97,000 90,240 282,000 o 94,000 Question 15 2 pts 15 - On January 1 of the current year, Tobin Corporation has accumulated E&P of $188,000. Current E&P for the year is $564,000, earned evenly throughout the year. Maggie and Torri are sole equal shareholders of Tobin Corporation from January 1 to April 30. On May 1, Maggie sells all of her stock to Carter. Tobin Corporation makes two distributions to shareholders during the year: $300,800 ($150,400 to Maggie and $150,400 to Torrri) on April 30 and $526,400 ($263,200 to Torri and $263,200 Carter) on December 31. Total distributions are 827,200. Assume that the shareholders have sufficient basis in their stock. NOTE: When calculating the "current E&P allocated to a distribution" ROUND THE PERCENT 2 DECIMALS, before taking it times the the current E&P amount. (for example 2778 would be 28%). How much of the December distribution is Return of Capital? OO 75,200 80,000 5,000