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CH 19 HW Book Print om Exercise 19-22 (Algorithmic) (LO. 3) On January 1 of the current year, Rhondell Corporation has accumulated E&P of $196,000.
CH 19 HW Book Print om Exercise 19-22 (Algorithmic) (LO. 3) On January 1 of the current year, Rhondell Corporation has accumulated E&P of $196,000. Current E & Pfor the year is $589,000, carned evenly throughout the year. Elizabeth and Jonathan are sole equal shareholders of Rhandel from lanuary 1 to April 30. on May 1, Elizabeth sells all of her stock to Marshal Rondell makes two distributions to shareholders during the year: a total of $313,600 ($156,800 to Elizabeth and $156,900 to Jonathan) on April 30 and a total of $548,900 ($274,400 to Jonathan and $274,400 Marshall) on December 31 Determine the allocation of the distributions by completing the table below. Assume that the shareholders have sufficient basis in their stock for any amount that is treated as return of capital. If an amount is zero, enter"". If required, round any division to two decimal places and use in subsequent computations. Round final answers to the nearest dollar. From Current E&P From Accumulated E&P Treated as Return of Capital April 30 distribution of $313,600 December 31 distribution of $548,809 78,400 11. Fest 12 13 14 15 Check My Work Progress: 16/16 items Previous Assignment Score: 91.19% Save and Ext Submit Assignment for Grading
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