REG Study Group Q1 2017 - Page 50

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  • January 17, 2017 at 3:12 pm #1442945
    aatoural
    Participant

    @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

    January 17, 2017 at 3:19 pm #1442951
    HoosierCPA
    Participant

    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

    January 17, 2017 at 3:43 pm #1442987
    RE2PECT
    Participant

    @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:

    January 17, 2017 at 3:49 pm #1442996
    HoosierCPA
    Participant

    @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

    January 17, 2017 at 4:03 pm #1443035
    RE2PECT
    Participant

    @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:

    January 17, 2017 at 4:10 pm #1443053
    aatoural
    Participant

    @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

    January 17, 2017 at 4:12 pm #1443057
    HoosierCPA
    Participant

    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

    January 17, 2017 at 4:19 pm #1443068
    aatoural
    Participant

    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

    January 17, 2017 at 5:20 pm #1443102
    RE2PECT
    Participant

    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:

    January 17, 2017 at 5:40 pm #1443119
    JMG
    Participant

    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?

    January 17, 2017 at 6:10 pm #1443129
    aatoural
    Participant

    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

    January 17, 2017 at 6:30 pm #1443144
    RE2PECT
    Participant

    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:

    January 17, 2017 at 6:52 pm #1443153
    aatoural
    Participant

    @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

    January 17, 2017 at 7:11 pm #1443093
    JMG
    Participant

    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?

    January 17, 2017 at 7:18 pm #1443170
    aatoural
    Participant

    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

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