In this lesson, we will explain how to perform calculations to convert cash basis or modified cash basis financial statements to accrual basis financial statements. We will illustrate this with an example. What are Accrual, Cash, and Modified Cash Basis Accounting? An account...
There may be hope that something other than cash may constitute "money" under the Code and receivetax-freedistribution treatment during the PTTP. One might question whether a corporation could borrow money from a third party and distribute it to the shareholders, who in turn loan money back to...