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Please complete the S corporations Schedule M-2 given the following information. I have attached a picture of what Schedule M-2 looks like to guide your
Please complete the S corporations Schedule M-2 given the following information.
I have attached a picture of what Schedule M-2 looks like to guide your process.
54. LO.6 Based upon the following facts about Aqua, Inc., a calendar year S corpora tion, prepare the entity's Schedule M-2 AAA, beginning of the year Ordinary income Tax-exempt income Key employee life insurance proceeds received Payroll penalty expense Charitable contributions Unreasonable compensation Premiums on key employee life insurance Distribution to shareholders 9,400 24,600 3,000 4,900 2,200 3,000 4,000 2,300 17,000
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