lease help me with the next question. onergan, Inc., a calendar year S corporation in Athens, Georgia, had a balance in AAA of $200,000 and AEP of $110,000 on December 31, 2018. During 2019, Lonergan, Inc., distributes $140,000 to its shareholders, while sustaining an ordinary loss of $120,000. The 2019 ending balance in the AAA account is a (positive or negative) balance of $ _________, and the AEP account balance is$.______________
lease help me with the next question. onergan, Inc., a calendar year S corporation in Athens, Georgia, had a balance in AAA of $200,000 and AEP of $110,000 on December 31, 2018. During 2019, Lonergan, Inc., distributes $140,000 to its shareholders, while sustaining an ordinary loss of $120,000. The 2019 ending balance in the AAA account is a (positive or negative) balance of $ _________, and the AEP account balance is$.______________
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 18DQ
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lease help me with the next question.
onergan, Inc., a calendar year S corporation in Athens, Georgia, had a balance in AAA of $200,000 and AEP of $110,000 on December 31, 2018. During 2019, Lonergan, Inc., distributes $140,000 to its shareholders, while sustaining an ordinary loss of $120,000.
The 2019 ending balance in the AAA account is a (positive or negative) balance of $ _________, and the AEP account balance is
$.______________
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