Business
Business, 15.10.2019 22:30, amulets7017

Perch corporation has made paint and paint brushes for the past ten years. perch corporation is owned equally by arnold, an individual, and acorn corporation. perch corporation has $100,000 of accumulated and current e& p. both arnold and acorn corporation have a basis in their stock of $10,000. perch corporation discontinues the paint brush operation and distributes assets worth $10,000 each to arnold and acorn corporation in redemption of 20% of their stock. due to the distribution, arnold and acorn corporation must report a. arnold acorn corporation $8,000 capital gain $8,000 capital gain b. arnold acorn corporation $10,000 dividend $10,000 dividend c. arnold acorn corporation $10,000 dividend $8,000 capital gain d. arnold acorn corporation $8,000 capital gain $10,000 dividend

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