How will the shareholder be taxed

Assignment Help Humanities
Reference no: EM13320635

Cardinal Corporation (a calendar year taxpayer) had a deficit in accumulated E & P of $500,000 at the beginning of the current year. Its net profit for the period January 1 through July 30 was $600,000, but its E & P for the entire taxable year was only $80,000. If Cardinal made a distribution of $120,000 to its sole shareholder on August 1, HOW will the shareholder be taxed? i need to know HOW!

Reference no: EM13320635

Previous Q& A

  Determine the amount of air added to the tank in lbm

A rigid tank contains 40 lbm of air in 20 psia and 70 degrees F. More air is added to the tank untill the pressure and temperature rise to 35 psia and 90 degrees F, respectively.

  Determine graphically magnitude and direction of resultant

Knowing that the tension is 120 lb in AB and 40 lb in AD, determine graphically the magnitude and direction of the resultant of the forces exerted by the stays at A

  Payne company makes two products

Payne Company makes two products, M and N, in a joint process. At the split-off point, 40,000 units of M and 50,000 units of N are available each month.

  What are some of the ethical responsibilities

What are some of the ethical responsibilities and obligations that management accountants have within an organization? Provide some examples. Are these responsibilities different than the obligations for financial accountants?

  Determine bearing stress in the soil including the weight

A concrete column with cross-sectional area is A= 120inches squared supports an axial compressive load P=9.0 kip, including the weight of the column. Determine the bearing stress in the soil. Concrete weighs 150lb/ft cubed

  The expenses and receipts for income

She has had an accountant in the past, but the accountant left her 6 months past and she has been trying to do the accounting work on her own.

  List a few of the issues and considerations businesses

List a few of the issues and considerations businesses should have when it comes to the selection of long-term investments and how those issues impact the various financial statements.

  Find the emf induced in the inner solenoid

One solenoid is centered inside another. The outer one has a length of 53.0cm and contains 6600 coils, Find the emf induced in the inner solenoid

  What type of taxpayers are considered

Heather & Terry have a mortgage on their primary residence of $750,000 and a mortgage on their vacation home of $410,000. In 2013, they incurred $46,400 of mortgage interest expense.

  Determine the probability of getting a positive test result

A certain disease is found in one person in 5000. If a person does have the disease, the test will show a positive result 93% of the time. If a person does not have the disease, the test in 1 out of 500 cases will give a false positive result..

Reviews

Write a Review

 

Similar Q& A

  Discuss russian organized crime in the ussr the russian

Discuss Russian organized crime in the USSR, the Russian Republic and the US with reference to its structure and activities.

  Awareness of oppression and arousing sympathy

By creating awareness of oppression and arousing sympathy of supporters, the arts can be a form of protest. Identify and describe an example of how either black slaves or white abolitionists used the arts as a form of protest against slavery.

  Demonstrated the importance of diversity to you

what you would bring to the diversity in a college community, or an encounter that demonstrated the importance of diversity to you.

  Compare and contrast his engagement with practices

Compare and contrast his engagement with practices in the early and later parts of the film, making reference to MacIntyre's distinction between internal and external goods and how those are related to the virtues.

  Identify the popular product range

Consumers trust the internet and look over the internet and social networking websites to identify the popular product range, which can maintain their social status.

  Draw conclusions based on the evidence that you have discove

Conclusions. Draw conclusions based on the evidence that you have discovered. Does the evidence confirm or refute your hypothesis? Is the evidence sufficiently convincing to draw firm conclusions about your hypothesis?

  Cunneen and white argue that whilst the australian

Cunneen and White argue that, whilst the Australian Government espouses the rhetoric of restorative justice, juvenile justice reforms instituted in recent years have contributed to the further marginalisation of disadvantaged youth.

  Identify trends of public law enforcement courts correction

Prepare a 100- to150 - word executive memo, which addresses the contemporary and future trends facing criminal justice and security organizations.

  From fascism to the new left

Workers West: From Fascism to the New Left, Workers East: Taylorism and Revolution and Workers South: Confronting Neocolonialism, Racism, and Counterinsurgency

  Explain the relationship between abuse and addiction

Explain in detail, using your readings to support what you say, the relationship between abuse and addiction. How can one discern abuse from addiction?

  If you could walk into the studio of leonardo da vinci

If you could walk into the studio of Leonardo da Vinci or Michelangelo or Raphael and observe the artist at work, which artist would you choose, what two things you would ask him, and why?

  The ancient world in cinema

The Ancient World in Cinema - Choose any two movies about Romantic antiquity and compare one or two passages from the movies.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd