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Home Q & A Board Other Fields Homework Help Business Accounting
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Mandarini Mandarini
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7 years ago
Pressley Corporation was incorporated on January 1, 2004. The corporation made its S election on March 1, 2008. The corporation retains an E&P balance from its C corporation days. During the current year, it made a cash distribution to its sole shareholder Robert Pressley. What is the proper sequence in reducing the corporate earnings accounts for the distribution?
A) AAA; E&P
B) AAA; OAA; E&P
C) E&P; AAA
D) AAA; PTI; E&P
Textbook 
Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts

Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts


Edition: 27th
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genflynngenflynn
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7 years ago
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More solutions for this book are available here
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We have the most crude accounting tools. It's tragic because our accounts and our national arithmetic doesn't tell us the things that we need to know.

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Mandarini Author
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7 years ago
Smart ... Thanks!
loki1345
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Yesterday
Good timing, thanks!
derya1234
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2 hours ago
This site is awesome
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