Question
Carson owns shares of a money market mutual fund. During the year, he received $2,800 in dividend distributions, $700 of which he received in cash.
Carson owns shares of a money market mutual fund. During the year, he received $2,800 in dividend distributions, $700 of which he received in cash. He elected to use the remaining $2,100 to purchase additional shares of the fund. The total amount of dividend income subject to tax is:
-$0
-$700
-$2,100
-$2,800
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Financial Accounting The Impact On Decision Makers
Authors: Gary A. Porter, Curtis L. Norton
2nd Edition
0030270995, 978-0030270994
