Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. r corporation has 1,000 shares of common stock out

r corporation has 1,000 shares of common stock outstanding, 200 of which are owned by...

80.2K

Verified Solution

Question

Accounting

r corporation has 1,000 shares of common stock outstanding, 200 of which are owned by doug. on june 1, of this year, R redeemed all of doug's shares for $300,000. R's E&P immediately before the redemption was $500,000. IF the redemption qualifies as a sale, R's E&P will decrease by

a. $300,000

b. $60,000

c. $100,000

d. $200,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Lemon Auto Wholesalers had sales of $1,310,000 last year, and cost of goods sold represented 77...

Finance
Q

Three return steam lines in a chemical processing plant enter a collection tank operating at steady...

Mechanical Engineering
Q

Describe and explain 10 future sustainability plans of park hyatt hotel Maldives

Operations Management
Q

For x y groups 4 different practices is made a b c d to test...

Algebra
Q

Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows:...

Accounting
Q

SMC, Inc. Balance Sheet December 31, 2017 Assets Cash ......................................................................................................... $34,500 Accounts receivable ................................................................................ 25,000...

Accounting
Q

Required informationSouth Atlantic Chemical Company manufactures industrial chemicals in Rio de Janeiro, Brazil. The company...

Accounting
Q

On July 31, OYZ Company contracted to have two products built by TAB Manufacturing for...

Accounting
Q

Required information ABC starts a merchandising business on December 1 and enters into the following...

Accounting
Q

On January 1, the Matthews Band pays $65,800 for sound equipment. The band estimates it...

Accounting
Q

Kia Lopez is single (SSN 412-34-5670) and resides at 101 Poker Street, Apartment 12A, Hickory,...

Accounting
Q

is that correct? Capes Corporation is a wholesaler of industrial goods. Data regarding the...

Accounting