Solved: A-corp distributed 10000 cash to john its sole class a, Accounting Basics

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A-corp distributed 10000 cash to john its sole class a

Question - A-corp distributed $10,000 cash to John, its sole Class A common stockholder in May, 2009. It also made a $10,000 cash distribution to Bill, its sole Class B common stockholder in December, 2009. The corporation has $6,000 in current earnings and profits for the year and $8,000 in accumulated earnings and profits. How will the corporation identify the distributions to John and Bill?

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Accounting Basics: A-corp distributed 10000 cash to john its sole class a

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Accounting Basics: A-corp distributed 10000 cash to john its sole class a

Reference No:- TGS02593157

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