Question
Current E & P 400,000 an Accumulated E & P 200,000. During the year Zeta distributes $700,000 to shareholders(A & B-$300, 000 to each) A
Current E & P 400,000 an Accumulated E & P 200,000. During the year Zeta distributes $700,000 to shareholders(A & B-$300, 000 to each) A has a basis in his stock $20,000 and B has a a basis of 200,000 Calculate the effect of the distribution on A and B
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Accounting And Finance For Non Finance Managers
Authors: Jai Kumar Batra
1st Edition
9352806964, 978-9352806966
