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XYZ Corporation was originally formed in 2 0 1 6 as a C corporation. In 2 0 1 8 , it became an S corporation.
XYZ Corporation was originally formed in as a C corporation. In it became an S corporation.
Which of the following accounts, on Schedule M of its Form S does XYZ Corporation use to track the undistributed
retained earnings that have accrued since it became an S corporation?
Accumulated adjustments account.
Shareholders' undistributed taxable income previously taxed.
Accumulated earnings and profits.
Other adjustments account
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