Joined: 30 Jan 2009 Location: India
Online Status: Offline Posts: 1456
Posted: 16 Nov 2011 at 05:02 | IP Logged
meacpa_2011 wrote:
Yes Divya, the date of
distribution
is mentioned as July 1 of the year. So the apportionment
of
current E&P makes sense. But there was only one dividend
declared in this question. The current E&P that is
prorated, what if there were two dividends in a yr. Say
one
on March1 and other in July1. For Dividend on march do we
prorate for 2 months and then how many months for July?
Allocate current E & P pro rata (using dollar amounts) to
each distribution. For March, 2 months as you mentioned
and
for July, 6 months accordingly.
Joined: 30 Jan 2009 Location: India
Online Status: Offline Posts: 1456
Posted: 16 Nov 2011 at 05:34 | IP Logged
true as I mentioned above that - Negative current E&P is
assumed to occur evenly throughout the year so it is
allocated on the basis of the number of days in the tax
year to the date of distribution.
Joined: 25 Nov 2009 Location: United States
Online Status: Offline Posts: 196
Posted: 16 Nov 2011 at 08:40 | IP Logged
divyagovil1,
wow! i envy your scores. i have Reg in 2 days totally NOT confident. Is there any topic you would recommend to review the most before me going into the gallows?
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Topic: Wiley Simulation-please help
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