Amit, Inc, an S Corporation, Holds an AAA Balance of $614,000

question 56

Multiple Choice

Amit, Inc., an S corporation, holds an AAA balance of $614,000 at the beginning of the tax year. During the year, the following items occur. $$\begin{array} { l r } \text { Operating income } & \$ 501,000 \\\text { Interest income } & 6,500 \\\text { Dividend income } & 13,020 \\\text { Municipal bond interest income } & 6,000 \\\text { Long-term capital loss from sale of investment land } & 7,400 \\\text { Section 179 depreciation deduction } & 6,000 \\\text { Charitable contributions } & 19,000 \\\text { Cash distributions } & 57,000\end{array}$$ Amit's ending AAA balance is:

• A) $1,055,620.
• B) $1,185,150.
• C) $1,191,150.
• D) $1,242,150.
• E) Some other amount.

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Definitions:

Impedance

The measure of opposition that a circuit presents to the flow of alternating current, represented as a complex number and includes both resistance and reactance.

High-pass Filter

An electronic filter that allows signals with frequencies above a certain cutoff frequency to pass through while attenuating those below it.

Output Signal

The information or power delivered by a system or device as a response to a specific input, often used in the context of electronics or communication.

PI-type Filters

A form of electronic filter design that combines a parallel capacitor with a series inductor to block unwanted frequencies, characterized by its resemblance to the letter "PI" in schematic diagrams.