In part C, why did you include net income and the retained earnings (or is that supposed to be payment of dividends-- which should have been $387) for the change in Owner's Equity/Shareholder Equity? Change in SHE -505 12748-12659+745-329
less Dividend paid 357 387
Why not just use 12748-12659?
Recently Asked Questions
- An S corporation has the following information for the taxable year: Net income before the following listed items: $120,000 Tom's salary: ($50,000) Other
- Which of the following statements concerning the Alternative Minimum Tax (AMT) system is correct? There is an unlimited carryforward for AMT credit generated
- Should employers provide substantive references or is it just not worth the risk? Why?