Tomika Corporation has current and accumulated earnings and profits of $0. Tomika distributes $10,000 to its sole shareholder, Alana. What are Tomika's earnings and profits after the distribution? A. $0 B. ($10,000) C. $10,000 D. none of the above
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Tomika Corporation has current and accumulated earnings and profits of $0. Tomika distributes $10,000 to its sole shareholder, Alana. What ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
According to the rule of 72, if holly invests $200, $400, and $1000 into three separate accounts with the same interest rate, which amount will double fastest?
Answers (1)
A researcher is testing a new painkiller that claims to relieve pain in less than 15 minutes, on average. a. State the hypotheses associated with the researcher's test. b. Describe a Type I error for this situation. c.
Answers (1)
A firm has used lifo for several years during which costs have trended higher. if this firm achieves a substantial reduction in inventory quantities in 2017 by selling more merchandise than it purchases, the effect on 2017 net income of the
Answers (1)
Alyona recently purchased a car. In her first auto loan statement, she was surprised to find a letter for a life insurance company offering her an affordable policy, which she could purchase by filing out her Information, along with her credit card
Answers (1)
Allison Corp. has just issued preferred stock with an annual dividend of $0.85. The preferred stock is currently selling for $18.75 per share. What is the annual yield or return (r) on this preferred stock?
Answers (1)
New Questions in Business
Glenn's AGI is $34,000. He has $4,222 in medical and dental expenses. How much can he deduct on Schedule A
Answers (1)
The Nobel Prize-winning economist Paul Samuelson argued that contrary to the standard interpretation, in certain circumstances the theory of comparative advantage predicts that a rich country might actually be worse off by switching to a free trade
Answers (1)
Varughese Inc. is working on its cash budget for March. The budgeted beginning cash balance is $33,000. Budgeted cash receipts total $182,000 and budgeted cash disbursements total $191,000. The desired ending cash balance is $40,000.
Answers (1)
On January 1, 2017 the City of Graf pays $85,500 fora work of art to display in the local library. The city will take appropriate measures to protect and preserve the piece.
Answers (1)
Josh wants to ensure that anyone employed by his Florida-based startup won't leave to start their own competing businesses. He requires new employees to sign a non-compete agreement and stipulates Florida as the forum selection clause.
Answers (1)