Clampett, Inc., has been an S corporation since its inception. On July 15, 2020, Clampett, Inc., distributed $51,000 to J. D. His basis in his Clampett, Inc., stock on January 1, 2020, was $46,500. For 2020, J. D. was allocated $11,500 of ordinary income from Clampett, Inc., and no separately stated items. What is J. D.'s basis in his Clampett, Inc., stock after all transactions in 2020? a. $40,000.
b. $21,000.
c. $2,000.
d. $14,000.
e. None of the choices are correct.

What does the phrase limited liability mean in a corporate context?

You have just been hired as a financial analyst for barrington industries. unfortunately, company headquarters (where all of the firm's records are kept) has been destroyed by fire. so, your first job will be to recreate the firm's cash flow statement for the year just ended. the firm had $100,000 in the bank at the end of the prior year, and its working capital accounts except cash remained constant during the year. it earned $5 million in net income during the year but paid $800,000 in dividends to common shareholders. throughout the year, the firm purchased $5.5 million of machinery that was needed for a new project. you have just spoken to the firm's accountants and learned that annual depreciation expense for the year is $450,000; however, the purchase price for the machinery represents additions to property, plant, and equipment before depreciation. finally, you have determined that the only financing done by the firm was to issue long-term debt of $1 million at a 6% interest rate. what was the firm's end- of-year cash balance? recreate the firm's cash flow statement to arrive at your answer

Given the following information about the closed economy of brittania, what is the level of investment spending and private savings, and what is the budget balance? assume there are no government transfers. gdp=$1180.00 million =$510.00 million =$380.00 million =$280.00 million