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Please help. Thank you Exercise 1925 (Algorithmic) (10.3) On January 1 of the current veat, Rhondell Corporation has accumulated E &. P of $168,000, Current
Please help. Thank you
Exercise 1925 (Algorithmic) (10.3) On January 1 of the current veat, Rhondell Corporation has accumulated E \&. P of $168,000, Current E B. P for the year is 5504,000 , earned evenly throughout the yeaz. Elizabeth and Jonathan are sole equal shareholders of fohondell from january 1 to Apeil 30 . On Mar 1 , Ehabeth sells all of her stock to Marshall. Rhondell makes two distributions to shareholders 99 the vear: a total of $268,800 ( $134,400 to Elizsbeth and $134,400 to Jenathan) on Apnil 30 and a total of $470,400($235,200 to Jonathan and $235,200 to Markhal) on December Determine the allocation of the distributions by coenpleting 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 " 0 ". If required, round any division to two decimal places and use in subsequent computations. Round final answers to the nearest dollar. r chidk wiviol Years. It is important to distinginh between current E \& P and accumulated E \& P because the taxabdity of corporate distnhuticos deperiss on how these two accourits are allocated to each distrabution made duning the vearStep by Step Solution
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