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Inca distributed 300000 to its sole shareholder on january

Question - Inca Company reports current E&P of negative $100,000 in 20X3 and accumulated E&P at the beginning of the year of $200,000. Inca distributed $300,000 to its sole shareholder on January 1, 20X3. How much of the distribution is treated as a dividend in 20X3?

A. $0

B. $100,000

C. $200,000

D. $300,000

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Accounting Basics: Inca distributed 300000 to its sole shareholder on january

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Accounting Basics: Inca distributed 300000 to its sole shareholder on january

Reference No:- TGS02769660

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