User Account

All Pages

What balance does circus have in its earning and profits

Assignment Help Accounting Basics
Reference no: EM133032821

Problem - Circus is a calendar-year S corporation that is owned 100% by Clown. At the end of the tax year after considering all current year income and losses Clown has a basis in his stock of $80,000 and Circus has $60,000 of earning and profits and $40,000 in its accumulated adjustments account. Circus distributes cash of $75,000 to Clown on the last day of the tax year. After the distribution, what balance does Circus have in its earning and profits and its accumulated adjustments account?

Reference no: EM133032821

Questions Cloud

Is exploratory market research enough to support : Is exploratory market research enough to support Maria Farina decision to enter the North American market
Closing on a settlement statement : 1. During a showing of an occupied home, a buyer agent noticed that while running the water, it remained cold. In this situation, the licensee should:
Hypothetical american state of new worcester. : Teri is a single widow, age 78, living in the hypothetical American state of New Worcester. Should the 401(k) assets be transferred to the trust?
Point out a strategy that you found online : Question- Point out a strategy that you found online. Why does or doesn't it follow the rules in
What balance does circus have in its earning and profits : Circus distributes cash of $75,000 to Clown on the last day of the tax year. After the distribution, what balance does Circus have in its earning and profits
Case-quantcrunch corporation : You are a pricing analyst for QuantCrunch Corporation, a company that sells a statistical software package. To date, you only have one client.
Difference between cross-docking and drop shipping : Explain the difference between cross-docking and drop shipping.
What lease payment would be required by the lessor : WWC's incremental borrowing rate is 4.5%. It knows that the implicit rate in the lease is 5%. What lease payment would be required by the lessor
How do organizations practice managing capacity and demand : How do organizations practice managing capacity and demand?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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