Solved: Karla heyne is the sole shareholder of xyz corporation what, Accounting Basics

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Karla heyne is the sole shareholder of xyz corporation what

Question - Karla Heyne is the sole shareholder of XYZ Corporation. This past year Karla paid her retired father, Paul, $10,000 from the company's checking account because he was having financial trouble. XYZ files as a C corporation, and Karla noticed that her accountant erroneously deducted this payment as salary on XYZ's return. What would you do with this information if you were in Karla's shoes?

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Accounting Basics: Karla heyne is the sole shareholder of xyz corporation what

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