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please box answers! thank you thank you Required information [The following information applies to the questions displayed below.) Winkin, Blinkin, and Nod are equal shareholders
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Required information [The following information applies to the questions displayed below.) Winkin, Blinkin, and Nod are equal shareholders in Sleepez, an corporation. In the conditions listed below, how much income should each report from SleepEZ for 2019 under both the daily allocation and the specific identification (aka interim closing of the books) allocation method? Refer to the following table for the timing of Sleepez's income. Period Income January 1 through February 18 (48 days) 8$209,000 February 19 through December 31 (317 days) 424,000 January 1 through December 31, 2019 (365 days) $633,000 (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) a. There are no sales of Sleepez stock during the year Income Reported Daily Specific Allocation Identification Method Method Winkin Blinkin Nod Required information [The following information applies to the questions displayed below.) Winkin, Blinkin, and Nod are equal shareholders in Sleepez, an Scorporation. In the conditions listed below, how much income should each report from SleepEZ for 2019 under both the daily allocation and the specific identification (aka interim closing of the books) allocation method? Refer to the following table for the timing of SleepEZ's income Period Income January 1 through February 18 (48 days) $209,000 February 19 through December 31 (317 days) 424,000 January 1 through December 31, 2019 (365 days) $633,000 (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) b. On February 18, 2019, Blinkin sells his shares to Nod. Income Reported Daily Specific Allocation Identification Method Method Winkin Blinkin Nod
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