At the beginning of the year crispin a c corporation had a, Accounting Basics

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At the beginning of the year crispin a c corporation had a

At the beginning of the year, Crispin, a C corporation, had a deficit of $35,000 in accumulated earnings and profits (E & P). For the current year, Crispin reported E & P of $12,000. Crispin distributed $10,000 during the year. What was the amount of Crispin's accumulated E & P decifit at year-end?

a. $23,000

b. $33,000

c. $27,000

d. $37,000

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Accounting Basics: At the beginning of the year crispin a c corporation had a

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Accounting Basics: At the beginning of the year crispin a c corporation had a

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