# ABC Inc. had current earnings and profits of $50,000 when it distributed to an individual shareholder... ###### Question: ABC Inc. had current earnings and profits of$50,000 when it distributed to an individual shareholder land that the corporation held as an investment. On the date the land was distributed, ABC Inc.’s adjusted basis in the land was $10,000, the fair market value of the land was$50,000, and the land was encumbered by a $30,000 mortgage, which liability was assumed by the shareholder. There were no other transactions that might affect ABC Inc.’s earnings and profits for the year. What was the amount of ABC Inc.’s earning and profits at the end of the year? Group of answer choices$30,000

$50,000$60,000

##### 12. Describe and explain the type of misrepresentations occurring in the following situations, when a guest...
12. Describe and explain the type of misrepresentations occurring in the following situations, when a guest asks the waitress of a restaurant about the ingredients in the dish she ordered. a. The waitress unconsciously states it has beef when in fact it has pork in the dish. b. The waitress states w...
##### Identify the latency of a host over the local network, it should typically be in milliseconds; • Use the tools tracepath...
Identify the latency of a host over the local network, it should typically be in milliseconds; • Use the tools tracepath, traceroute and ping to determine the route trip times of packets to a host • Install the above tools if not on your system already Q) Can you run the following commands...
##### Answer the following questions by 11:59 pm on 7/10 (Wed): (a) What is the shape f...
Answer the following questions by 11:59 pm on 7/10 (Wed): (a) What is the shape f the distribution of household income in the U.S.? Why? (b) From the shape, which measure of center would be the most appropriate for reporting the typical household income in the U.S.? You have one attempt to post your...
##### PO 7. What is a Balanced Scorecard? In what ways is it a means of focusing...
PO 7. What is a Balanced Scorecard? In what ways is it a means of focusing attention on strategy implementation? strategis implementatie...
##### If y1(t) and y2(t) are two solutions of the differential equation y^2-y'+y=0 then for any constants...
if y1(t) and y2(t) are two solutions of the differential equation y^2-y'+y=0 then for any constants c1 and c2 c1y1(t)+c2y2(t) is also a solution true or false and why...
##### What is non-coding DNA, and why is it necessary? Describe some of its roles
What is non-coding DNA, and why is it necessary? Describe some of its roles...
##### Quiz 3 Question 1. You have printed a Smith chart on a piece of paper. The radius of the chart i...
Quiz 3 Question 1. You have printed a Smith chart on a piece of paper. The radius of the chart is 8 cm. You find an impedance 21 on the chart which is point A. If the distance from origin to point A is 4 cm, what is the SWR value for impedance zL? Question 2. Scattering matrix of a 2-port network i...