Question

Barbara owns 40% of the stock of Cassowary Corporation (a C corporation) and 40% of the stock of Emu Corporation (an S corporation). In the current year, each corporation has operating income of $120,000 and tax-exempt interest income of $8,000. Neither corporation pays any dividends during the year. Discuss how this information will be reported by the corporations and Barbara for the year.


$1.99
Sales1
Views173
Comments0
  • CreatedSeptember 09, 2015
  • Files Included
Post your question
5000