CB Corporation was formed as a calendar-year S corporation.Casey is a 60% shareholder and Bryant is a 40% shareholder.On September 30,2017,Bryant sold his CB shares to Don.CB reported business income for 2017 as follows (assume that there are 365 days in the year):
How much 2017 income is allocated to each shareholder if CB corp.uses the daily method of allocating income?

Question

CB Corporation was formed as a calendar-year S corporation.Casey is a 60% shareholder and Bryant is a 40% shareholder.On September 30,2017,Bryant sold his CB shares to Don.CB reported business income for 2017 as follows (assume that there are 365 days in the year):
  How much 2017 income is allocated to each shareholder if CB corp.uses the daily method of allocating income?

Quizplus · Accepted Answer

The Answer of CB Corporation was formed as a calendar-year S corporation.Casey is a 60% shareholder and Bryant is a 40% shareholder.On September 30,2017,Bryant sold his CB shares to Don.CB reported business income for 2017 as follows (assume that there are 365 days in the year):
  How much 2017 income is allocated to each shareholder if CB corp.uses the daily method of allocating income?

CB Corporation Was Formed as a Calendar-Year S Corporation