Solved: Determine the amount of dividend income, Accounting Basics

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Determine the amount of dividend income

Question: Corp has $(25,000) deficit in accumulated E&P and $5,000 in current E&P.
The balance in current E&P only reflects the results of operations(i.e., current E&P does not reflect any effect (direct or indirect)of distributions)

The Corporation made the following distributions:

* 4/25/x1 $15000 Cash
* 10/1/x1 Marketable equity securities held for investment (FMV $25,000, basis $10,000)

Determined the amount of dividend income (if any) resulting from each distribution?

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