Question
What is the nonseparately stated net ordinary income of an accrual-basis S corporation, solely owned by Z, with the following items? Sales $300,000 Cost of
What is the nonseparately stated net ordinary income of an accrual-basis S corporation, solely owned by Z, with the following items?
Sales $300,000
Cost of Goods Sold 125,000
Dividend Income 15,000
Salary to Shareholder Z 25,000
Life Insurance for Z 5,000
Net Long-Term Capital Gain 9,000
| $145,000 | ||
| $150,000 | ||
| $169,000 | ||
| $199,000
|
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Survey of Accounting
Authors: Carl S Warren
6th edition
978-113318912, 1133189121, 978-1133189121
