[jeff]

Welcome to the Q1 2017 CPA Exam Study Group for REG. 🙂

[aatoural]

@re2pect – here is how I did it (my way of getting the answer I have not read yet what you posed as GLEIM's explanation)

Corporation has 5,000 stock outstanding with a basis of $500k and the particular shareholder owns 200 shares of their stock at @ $100 each. With that infor you get that the basis per share of teh corp is also the $100 each. So my logic said that of the total distribution, the shareholder would receive its proportional share which is 200/5,000 = 4% ownership. Now, accumulated and current E&P total 90k, so the 125k distribution is dividend to the extent of 90k. Out of those 90k, the shareholder is entitled to 4% of it. Thus, 90k 8 4% = 3.6K

Now Reading GLEIM's explanation. They did it in a more complicated way, but I think is the same as I did at the end.

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[HoosierCPA]

yeah dividend income is calculated on a per share per day basis, he owned the shares 100% of the year @ 4% ownership. He assumed 4% of the total distributable income which is 90k * 4% = 3.6k

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[RE2PECT]

@aatoural- They always make their explanations more complicated than they need to be. After looking at the question again, it wasn't all that difficult. I was trying to sneak in some mcq's while at work and sometimes it's hard to focus with a lot going on around you.

FAR: 75 Roger & Ninja (notes/flashcards/audio/MCQ)
AUD: 73, 81
BEC: 71, retake 8/29
REG:

[HoosierCPA]

@re2pect yeah there are times I think it hurts me to try and work questions during work. I miss a lot of questions that I would have gotten if the focus was there.

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[RE2PECT]

@dtatham10- I agree, but I wouldn't be able to get nearly as much studying in if my only option was to do it when I get home. I start work too early in the morning to be able to wake up and study beforehand. By the time I get to sit down in the evening it's usually around 9 and I'm already shot from working and taking care of my son when I come home.

FAR: 75 Roger & Ninja (notes/flashcards/audio/MCQ)
AUD: 73, 81
BEC: 71, retake 8/29
REG:

[aatoural]

@dtat @re2pect – I agree doing mcq's at work is hard, but is the only way to sneak in more studying. Working since 7.30 am and getting home to cook and all those lovely shores and then sit down to study is just HARD.

@dtat – I will read that again when I get home. To make sure I got it.

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[HoosierCPA]

lol @re2pect @aa what's your guys record on mcq's in a work day? I think I have gotten 100 a time or 2 but its been awhile. I've backed way off — yesterday I did 50 and that was more then I've done in months at work.

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[aatoural]

when I was studying for BEC I was able to get over a 100 almost everyday. But I got a promotion last Oct and that has been the end of it. If I make it to 100 I am lucky. 🙁

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[RE2PECT]

When I was studying for AUD I could easily do around 140. Now I usually do around 60 depending on how busy I am. Lately I've been trying to do 20-40 first thing in the morning since it's still quiet and I can concentrate a little better. My office is dead on fridays so I can usually get over 100 no problem 😂

FAR: 75 Roger & Ninja (notes/flashcards/audio/MCQ)
AUD: 73, 81
BEC: 71, retake 8/29
REG:

[JMG]

I'm starting to get the first exam jitters, how was everyone's experience with their first exam (not just REG, any exam)? Did you do the AICPA tutorials and sample tests? Any tips/advice for a first timer?

[aatoural]

I freaked out!!! But the worst is the first time around with the score release. That is real jitters and sweating in the middle of the night!

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[RE2PECT]

I actually felt the least amount of pressure for my first exam. My son was born three weeks before I took FAR and I wasn't expecting to pass since I hadn't done a lot of studying since. My exam was scheduled for the last day of the window and I took it like I had nothing to lose. I approached it like it was a practice exam and at least I'd get the experience and learn from the whole process. Somehow I pulled it off with the perfect score 🙂

FAR: 75 Roger & Ninja (notes/flashcards/audio/MCQ)
AUD: 73, 81
BEC: 71, retake 8/29
REG:

[aatoural]

@dtatham – I just looked at R3-45. You are right. i was confusing corporation with shareholder. Gotta memorize that part of that page by Monday just in case!. Thank you!!

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[JMG]

I'm starting to get the first exam jitters, how did everyone handle their first exam experience? Did you do the AICPA tutorials and practice exams? Any tips/advice for a first timer?

[aatoural]

Any pointers on how to summarize information from estates and trust? I just did GLEIM sim for second time. i got a better score (68%) but still terrible in my opinion.

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[Author]

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