{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-28T02:17:26-04:00", "answer_date": "2024-05-28 02:17:26", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1814246", "url": "\/study-help\/questions\/exercise-1218-algorithmic-lo-8-jonas-is-a-60-owner-1814246", "question_creation_date_js": "2024-05-28T02:17:26-04:00", "question_creation_date": "May 28, 2024 02:17 AM", "meta_title": "[Solved] Exercise 12-18 (Algorithmic) (LO. 8) Jona | SolutionInn", "meta_description": "Answer of - Exercise 12-18 (Algorithmic) (LO. 8) Jonas is a 60% owner of Ard, an S corporation. At the beginning of the year, his | SolutionInn", "meta_keywords": "exercise,12-18,algorithmic,lo,8,jonas,60%,owner,ard,s,corporation,beginning", "question_title_h1": " Exercise 12-18 (Algorithmic) (LO. 8) Jonas is a 60% owner of Ard, an S corporation. At the beginning of the year, his stock basis", "question_title": " Exercise 12-18 (Algorithmic) (LO. 8) Jonas is a 60% owner of", "question_title_for_js_snippet": "Exercise 12 18 (Algorithmic) (LO 8) Jonas is a 60 owner of Ard, an S corporation At the beginning of the year, his stock basis is zero Jonas's basis in a $116,400 loan made to Ard and evidenced by Ard's note has been reduced to $0 by prior losses During the year, Jonas's net share of Ard's taxable income is $58,200 At the end of the year, Ard makes a $87,300 cash distribution to Jonas After these transactions, what is Jonas's basis in his stock, and what is his basis in the debt What is Jonas's recognized capital gain If an amount is zero, enter 0 Jonas has a basis of $ of for his stock and a basis of $ for the debt In addition, Jonas recognizes", "question_description": "\"image", "transcribed_text": "Exercise 12-18 (Algorithmic) (LO. 8) Jonas is a 60% owner of Ard, an S corporation. At the beginning of the year, his stock basis is zero. Jonas's basis in a $116,400 loan made to Ard and evidenced by Ard's note has been reduced to $0 by prior losses. During the year, Jonas's net share of Ard's taxable income is $58,200. At the end of the year, Ard makes a $87,300 cash distribution to Jonas. After these transactions, what is Jonas's basis in his stock, and what is his basis in the debt? What is Jonas's recognized capital gain? If an amount is zero, enter \"0\". Jonas has a basis of $ of for his stock and a basis of $ for the debt. In addition, Jonas recognizes", "related_book": { "title": "Financial Accounting and Reporting", "isbn": "978-0273744535, 273744445, 273744534, 978-0273744443", "edition": "14th Edition", "authors": "Barry Elliott, Jamie Elliott", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/168.jpg", "uri": "\/textbooks\/financial-accounting-and-reporting-14th-edition-168", "see_more_uri": "" }, "free_related_book": { "isbn": "1605500089", "uri": "\/textbooks\/the-ultimate-day-trader-how-to-achieve-consistent-day-trading-profits-in-stocks-forex-and-commodities-1st-edition-978-1605500089-186266", "name": "The Ultimate Day Trader How To Achieve Consistent Day Trading Profits In Stocks Forex And Commodities", "edition": "1st Edition" }, "question_posted": "2024-05-28 02:17:26", "see_more_questions_link": "\/study-help\/questions\/business-finance-2024-September-22", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/following-is-the-chart-of-accounts-of-the-c-lucern", "description": "Following is the chart of accounts of the C. 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