Where the AAA Account Should be Reported on Form 1120S
Not what you're looking for?
Where is the AAA account reported on Form 1120S?
In what situation does the AAA account have the largest impact?
Purchase this Solution
Solution Summary
This solution explains where the AAA account should be reported on the form 1120S, and in what situations the AAA account has the largest impact. Additionally, this solution includes a complete list of reference sources for further investigation of the topic.
Solution Preview
Where is the AAA account reported on Form 1120S?
The accumulated Adjustments Accounts (AAA) account is reported on schedule M-2 line 7 under column (a) in Form 1120S. Schedule M-2 provides a worksheet for reconciling the starting and finishing tax balances for the AAA, Other Adjustments Accounts and previous taxed income (Jamison, 2010).
M-2 is convenient in its computations as long as an S computation has no accumulated earnings and profits since there is no place in ...
Purchase this Solution
Free BrainMass Quizzes
Change and Resistance within Organizations
This quiz intended to help students understand change and resistance in organizations
Marketing Research and Forecasting
The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.
Six Sigma for Process Improvement
A high level understanding of Six Sigma and what it is all about. This just gives you a glimpse of Six Sigma which entails more in-depth knowledge of processes and techniques.
Academic Reading and Writing: Critical Thinking
Importance of Critical Thinking
Balance Sheet
The Fundamental Classified Balance Sheet. What to know to make it easy.