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 you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Bramble Corp. carries an account in its general ledger called Investments, which contained debits for investment purchases, and no credits, with the following descriptions. Feb.
Answers (1)
The Assembly Department had 4,900 units of beginning inventory in September , and 5,700 units were transferred to it from the Cutting Department.
Answers (1)
Wiley Company purchased new equipment for $42,000. Wiley paid cash for the equipment. Other costs associated with the equipment were: transportation costs, $3,000; sales tax paid $2,400; and installation cost, $2,300.
Answers (1)
Frazier Manufacturing Company collected the following production data for the past month: Units Produced Total Cost 1,600 $66,000 1,300 57,000 1,500 67,500 1,100 49,500 If the high-low method is used, what is the monthly total cost equation? a.
Answers (1)
In January, Hometown Ice Cream Shoppe reported the following balances in their income statement accounts. Based on this information, the closing entry to Retained Earnings will be?
Answers (1)
New Questions in Business
Personal Selling is: a. The two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person's or group's purchase decision. b.
Answers (1)
Potanta is a company that manufactures herbal soaps. Over the years, the availability of aloe vera pulp, which is the keyingredient of the company's best-selling aloe vera soaps, has reduced.
Answers (1)
An advertiser enables target cost-per-acquisition (cpa) bidding and notices that conversions decrease. what might cause this?
Answers (1)
A trigger strategy is a strategy that: A. is not relevant to oligopolies. B. determines when to enter an industry. C. depends on an opponent's past decisions. D. tells a business to leave the industry because the price is below the AVC.
Answers (1)
What is the effect on the supply curve for skateboards if the government implements a tax on the manufacturing process?
Answers (1)