Solved: Rindustries inc distributed to its sole shareholder pablo , Accounting Basics

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Rindustries inc distributed to its sole shareholder pablo

Question - R Industries, Inc. distributed to its sole shareholder, Pablo , $7,000 in cash, a motor vehicle with an adjusted basis of $3,000 and a fair market value of $18,000, and equipment with a fair market value of $4,000 but subject to a $2,500 liability. What is the amount of the distribution?

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Accounting Basics: Rindustries inc distributed to its sole shareholder pablo

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