User Account

All Pages

What is the amount of income j d recognizes

Assignment Help Accounting Basics
Reference no: EM133165719

Question - Clampett, Inc. has been an S corporation since its inception. On December 31, 2020, Clampett, Inc. distributed $50,000 to J. D. His basis in his Clampett, Inc. stock on January 1, 2020, was $45,000. For 2020, J. D. was allocated $10,000 of ordinary income from Clampett, Inc. and no separately stated items. What is the amount of income J. D. recognizes related to Clampett, Inc. in 2020?

A. $60,000.

B. $50,000.

C. $20,000.

D. $10,000.

Reference no: EM133165719

Questions Cloud

Summarize the communication misunderstanding : Once you have a communication misunderstanding you experienced in mind, address the following prompts:
Which project would be worth pursuing : The life of the project is 10 years. At a MARR of 13%, which project would be worth pursuing using the concept of incremental IRR
How effective did occidental petroleum deal : 1. How effective did Occidental Petroleum deal with consolidations in the industry in the 2010s?
Assignment on supply chain breakdowns : A supply chain is a transportation network between a company and its suppliers to produce and distribute a specific product to the final buyer.
What is the amount of income j d recognizes : On December 31, 2020, Clampett, Inc. distributed $50,000 to J. D. What is the amount of income J. D. recognizes related to Clampett, Inc. in 2020
Global economic-political conditions in aviation industry : How to mitigate or any risk management on the unfavourable global economic and political conditions in aviation industry?
Global climate change and the various causes thereof : Compare and contrast how natural- and human-induced processes have influenced global climate change. Be sure to include changes that have occurred in the past a
Information systems and supply chain management : 1. Explain the purpose of the data warehouse, and how do retailers use it?
What is the after tax salvage value : What is the After Tax Salvage Value (ATSV) of the old equipment that RDP should use in their capital budgeting analysis

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