rittney owns 30% of Orange Company, a C-Corporation. Orange Company has $600,000 in operating income during the year. Orange Company also makes a $10,000 cash dividend distribution to Brittney. How much income should Brittney include in gross income this year from Orange Company? Group of answer choices $10,000. $180,000. $190,000.
rittney owns 30% of Orange Company, a C-Corporation. Orange Company has $600,000 in operating income during the year. Orange Company also makes a $10,000 cash dividend distribution to Brittney. How much income should Brittney include in gross income this year from Orange Company? Group of answer choices $10,000. $180,000. $190,000.
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter6: Accounting For Financial Management
Section: Chapter Questions
Problem 10P: The Moore Corporation has operating income (EBIT) of 750,000. The companys depreciation expense is...
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Question
Brittney owns 30% of Orange Company, a C-Corporation. Orange Company has $600,000 in operating income during the year. Orange Company also makes a $10,000 cash dividend distribution to Brittney. How much income should Brittney include in gross income this year from Orange Company?
Group of answer choices
$10,000.
$180,000.
$190,000.
$610,000.
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