FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Concept explainers

Stockholder's Equity
The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The sto…
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This answer is wrong . please give me the right answer.

An S corporation distributes inventory with a basis of $30,000 and a value of $60,000 to its three shareholders who have a total basis of $200,000 in their stock before this distribution. What is the total basis of the shareholders' stock after this transaction is completed? DO NOT USE COMMAS OR DOLLAR SIGNS IN YOUR ANSWER!! Answer: 110000
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Transcribed Image Text:An S corporation distributes inventory with a basis of $30,000 and a value of $60,000 to its three shareholders who have a total basis of $200,000 in their stock before this distribution. What is the total basis of the shareholders' stock after this transaction is completed? DO NOT USE COMMAS OR DOLLAR SIGNS IN YOUR ANSWER!! Answer: 110000
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