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27 May, 11:00

Absent an election to close the books, the allocation of nonseparately stated income or loss for an S corporation shareholder that changed his ownership interest during the year is computed based on which of the following ownership percentages? a. Ownership percentage at the end of the S corporation year. b. Ownership percentage at the beginning of the S corporation year. c. Ownership percentage determined as an average of the beginning and ending ownership percentages. d. Ownership percentage computed on a per-share per-day basis.

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  1. 27 May, 14:34
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    Answer: D. Ownership percentage computed on a per-share per-day basis.

    Explanation: Shareholders' equity represents the net worth of a company, which is the amount that would be returned to shareholders if a company's total assets were liquidated and all of its debts repaid.

    This financial metric is frequently used by analysts to determine a company's general financial health.

    Shareholders' equity may be calculated by subtracting its total liabilities from its total assets, both of which are itemized on a company's balance sheet.
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Home » Business » Absent an election to close the books, the allocation of nonseparately stated income or loss for an S corporation shareholder that changed his ownership interest during the year is computed based on which of the following ownership percentages? a.
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