Oscar Buys a 10% Interest in Britanny Corporation Paying $92,000

question 66

Multiple Choice

Oscar buys a 10% interest in Britanny Corporation paying $92,000 cash on January 1,2015.During 2015,Britanny Corporation reports a loss of $30,000 and pays cash dividends to shareholders of $10,000.For 2016,Britanny Corporation has a loss of $60,000 and pays cash dividends of $20,000.If Britanny Company is organized as an S Corporation,Oscar's basis in the Britanny Corporation stock at the end of 2016 is:

• A)$80,000
• B)$86,000
• C)$92,000
• D)$98,000
• E)$104,000

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Definitions:

Bicuspid Valve

The heart valve located between the left atrium and left ventricle that controls blood flow and consists of two flaps; also known as the mitral valve.

Mitral Valve

A valve in the heart located between the left atrium and the left ventricle that regulates blood flow through the left side of the heart.

Left Heart Failure

A condition where the left side of the heart cannot effectively pump blood to the body, leading to symptoms like shortness of breath and fatigue.

I50.1

Refers to a code in the ICD-10 classification for Left ventricular failure, a specific type of heart failure where the heart's left ventricle is unable to pump blood effectively.