Determine the allocation of the distributions by completing the table below. Assume that the shareholders have sufficient basis in their stock for any amount that is treated as return of capital. If an amount is zero, enter "0". If required, round any division to two decimal places and use in subsequent computations. Round final answers to the nearest dollar. April 30 distribution of $300,800 December 31 distribution of $526,400 From Current E&P S S From Accumulated E&P S S Treated as Return of Capital S S
Determine the allocation of the distributions by completing the table below. Assume that the shareholders have sufficient basis in their stock for any amount that is treated as return of capital. If an amount is zero, enter "0". If required, round any division to two decimal places and use in subsequent computations. Round final answers to the nearest dollar. April 30 distribution of $300,800 December 31 distribution of $526,400 From Current E&P S S From Accumulated E&P S S Treated as Return of Capital S S
Chapter19: Corporations: Distributions Not In Complete Liquidation
Section: Chapter Questions
Problem 22CE
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