Joyce's employer loaned her $50,000 this year (interest-free) to buy a new car. If the federal interest
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Joyce recognizes $1,500 of taxable interest income.
Joyce's employer recognizes $1,500 of deductible interest expense.
Joyce recognizes $1,500 of imputed compensation income.
Joyce recognizes $1,500 of imputed dividend income.
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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