Question: Exercise 15-1 (Algorithmic) (LO. 4) Dion, an S shareholder, owned 20% of MeadowBrook's stock for 292 days and 25% for the remaining 73 days
Exercise 15-1 (Algorithmic) (LO. 4) Dion, an S shareholder, owned 20% of MeadowBrook's stock for 292 days and 25% for the remaining 73 days in the year. Using the required per-day allocation method, compute Dion's share of the following S corporation items. Assume 365 days in a year. Schedule K Totals Dion's Schedule K-1 Totals Ordinary income $206,000 45,780 X Tax-exempt interest 2,060 2,180 X Charitable contributions 10,300 2,289 X
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