Reed Corporation has a deficit in accumulated E & P of $300,000 and has current E & P of $225,000. On 12/31/19, Reed distributes $250,000 to its sole shareholder, Sam, who has a basis in his stock of $55,500. Required: Calculate the following at the Corporation level. a. Dividend distribution b. ROC c. Ending Accumulated E&P at 12/31/19.

Mozart Co. owns 35% of Melody Inc. Melody pays $50,000 in cash dividends to its shareholders for the period. Mozart’s entry to record the Melody dividend includes a:

answer must be in table format or i will give down vote

During the current year, Swallow Corporation, a calendar year C corporation, has the following transactions: Income from operations $660,000 Expenses from operations 760,000 Dividends received from Brown Corporation 240,000 Click here to view the dividend received deduction table. Question Content Area a. Swallow Corporation owns 12% of Brown Corporation's stock. How much is Swallow's taxable income or NOL for the year? Swallow's taxable income after deducting the dividends received deduction is $fill in the blank fd6fd0f8303e049_2 . Feedback Area Feedback The purpose of the dividends received deduction is to mitigate multiple taxation of corporate income. Without the deduction, income paid to a corporation in the form of a dividend would be taxed to the recipient corporation with no corresponding deduction to the distributing corporation. Later, when the recipient corporation paid the income to its shareholders, the income would again be subject to taxation with no corresponding…

Bostian, Inc. has total assets of $510,000. Its total debt outstanding is $185,000. The Board of Directors has directed the CFO to move towards a debt-to-assets ratio of 55%. How much debt must the company add or subtract to achieve the target debt ratio? Select the correct answer.   a. $95,450     b. $95,550     c. $95,601     d. $95,500     e. $95,651

1. The following information was taken from the accounts of JT Corp at year end:Total income since incorporation     P900,000Total cash dividends paid                  P260,000Proceeds from sale of donated shares  P  90,000Total value of share dividends distributed    P60,000Excess of proceeds over cost of treasury stocks sold    P140,000What should be the current balance of retained earnings? a. P780,000b. P520,000c. P720,000d. P580,0002.  see imagechoices: a. 176,000b. 263,000c. 204,000d. 321,000

Garrison holds a controlling interest in Robertson’s outstanding stock. For the current year, the following information has been gathered about these two companies:                               Garrison     RobertsonSeparate             $300,000      $200,000operating income                        (includes $50,000 intra-entity gross profit in ending inventory)Dividends paid ...32,000            50,000Tax rate . . . .  . . . . . 40%               40% Garrison uses the initial value method to account for the investment in Robertson. Garrison’s separate operating income figure does not include dividend income for the current year.a. Assume that Garrison owns 80 percent of Robertson’s voting stock. On a consolidated tax return, what amount of income tax is paid?b. Assume that Garrison owns 80 percent of Robertson’s voting stock. On separate tax returns, what total amount of income tax is paid?c. Assume that Garrison owns 70 percent of Robertson’s voting stock. What total amount of income…

Please do not give solution in image format ?

3. Earnings and Profits. A distribution is made when D, Inc. has assets valued at $500,000 (basis of $300,000), E&P of $80,000, and 10,000 shares of stock out-standing. T receives assets valued at $100,000 (basis of $60,000) for all his D stock (2,000 shares with a basis of $25,000). Compute the corporation’s E&P balance after the exchange if it is treated as (a) a dividend, or as (b) a sale.

Mozart Co. owns 35% of Melody Inc. Melody pays $50,000 in cash dividends to its shareholders for the period. Mozart's entry to record the Melody dividend includes a? O Debit to Cash for $50,000 O Credit to Cash for $17,500 Credit to Investment Revenue for $50,000 O Credit to Equity Method Investments for $17,500