Acc 455 Week 3 DQWk 3 DQsHow does a corporation compute earnings and profits (E&

Acc 455 Week 3 DQWk 3 DQsHow does a corporation compute earnings and profits (E&P)? What income is deferred to a later year when computing taxable income but is included in E&P in the current year? What deductions are allowed for taxable income purposes but denied for E&P?What income is deferred to a later year when computing taxable income but is included in E&P in the current year?What deductions are allowed for taxable income purposes but denied for E&P?Distinguish between current and accumulated earnings and profits. Why is it important to make this distinction?What is a stock redemption? What are some reasons for redeeming stock? Why are some redemption treated as sales and others as dividends?