ACTG 1P91 Lecture 1: ACTG 1
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10 May 2019
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W Corporation was owned by shareholder C prior to a sale of allof his stock (basis at the beginning of the year, $5,000) to D inJune for $10,000. During the year, W Corporation distributed$60,000 on May 1 and $40,000 on September
1. Indicate how the distributions would be treated by individualshareholders C and D in the following situations (15):
Accumulated E&P | Current E&P | |
a | 10,000 | 50,000 |
b | (70,000) | 50,000 |
c | 95,000 | (18,250) |