CB Corporation was formed as a calendar-year S corporation. Casey is a 60% shareholder and Bryant is a 40% shareholder. On September 30, 2018, Bryant sold his CB shares to Don. CB reported business income for 2018 as follows (assume that there are 365 days in the year):

How much 2018 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, 2018, Bryant sold his CB shares to Don. CB reported business income for 2018 as follows (assume that there are 365 days in the year):
  
How much 2018 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, 2018, Bryant sold his CB shares to Don. CB reported business income for 2018 as follows (assume that there are 365 days in the year):
  
How much 2018 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