REG Study Group Q4 2014 - Page 85

Viewing 15 replies - 1,261 through 1,275 (of 4,354 total)
  • Author
    Replies
  • #630434
    Tncincy
    Participant

    @ninjajuice, I would mix it up…reading is good, but the questions give you a chance to apply the principles and measure strengths and weaknesses.

    It begins with a 75
    Been here too long as a cheerleader.....time to pass

    It begins with a 75
    Been here too long as a cheerleader....ready to pass

    #630435
    Anonymous
    Inactive

    The Simone Trust reported distributable net income of $120,000 for the current year. The trustee is required to distribute $60,000 to Kent and $90,000 to Lind each year. If the trustee distributes these amounts, what amount is includible in Lind’s gross income?

    $0

    $60,000

    $72,000

    $90,000

    #630436
    Anonymous
    Inactive

    How will I know if the answer in AL is IRC or TS? Has anyone who previously took exam ever selected TS instead of IRC?

    #630437
    pnielsen1982
    Member

    Decided that cramming REG into roughly 24 days while working 35 hours a week and going to graduate school full-time would be a good idea…. guess we'll find out on November 30th. Best of luck to everyone!

    CA licensed CPA

    AUD - 08/31/13 - 84
    BEC - 11/26/13 - 84
    FAR - 08/10/14 - 85
    REG - 11/30/14 - 72, 02/20/15 - 87

    What have I gotten myself into?

    #630438
    Anonymous
    Inactive

    I have the 2013 Becker REG book. Are there any major updates to the test that I need to make myself aware of?

    #630439
    krokofilen
    Member

    bigezkid:

    There are some amounts that have changed for R1-R4.

    Created with Compare Ninja

    Big 4 Audit Manager from Europe here to pass the CPA in the U.S. of A in 2014! Niiice!

    AUD - 95 / Jul 15 / 130h over 4 weeks
    FAR - 86 / Aug 14 / 240h over 4 weeks
    (11 week break)

    REG - 81 / Nov 14 / 200h over 4 weeks
    BEC - 87 / Nov 17 / 30 h over 2.5 days

    #630440
    Anonymous
    Inactive

    Whoa, are you really only studying 2.5 days for BEC? Impressive! So probably after you take REG at the states? Luckily you took FAR and AID already so you will have some of the crossover material down before you even start. Good luck!

    #630441
    Tax lady
    Participant

    @CPAHOPEFUL, what is the answer to the question you posted?

    AUD - 80
    BEC - 75
    FAR - 85
    REG - 82

    REG 8/15/14 (73); 11/13/14 (82)-expired 🙁
    AUD 5/30/15 (80)
    BEC 11/28/15 (75)
    FAR 7/30/16

    Studying with CPAexcel and Ninja notes/MCQ's/Flashcards

    #630442
    WANNABE_CPA
    Member

    @cpahopeful… C $72000

    FAR : 68, 74, 83 Thank you God 🙂
    BEC : 78 (8/27) 🙂
    REG : 72 ,80 (2/25) 🙂
    AUD : 69,67, 07/23

    #630443
    Anonymous
    Inactive

    72000 is correct

    #630444
    WANNABE_CPA
    Member

    @Taxlady…I have memorized this formula for such questions where not enough to distribute..

    (Amount to Lind / Total distributions to be made ) x Reported DNI

    Amount to Lind means amount that is coming short of DNI/Amount asked in question.

    FAR : 68, 74, 83 Thank you God 🙂
    BEC : 78 (8/27) 🙂
    REG : 72 ,80 (2/25) 🙂
    AUD : 69,67, 07/23

    #630445
    Mamabear
    Member

    I don't understand that last sentence Wannabe–“Amount to Lind means….” Can you explain that further? I used (90/150)*120 after you posted your formula and got it right, but that last sentence confuses me.

    CPA Exam - Finally DONE (November 2014)
    BEC (08/10/13) 80
    AUD (08/24/13) 65 (11/13/13) 85
    FAR (04/12/14) 81
    REG (07/19/14) 69 (11/29/14) 87!!

    #630446
    WANNABE_CPA
    Member

    Thats all i was trying to the say,Good you got the formula right, it has the name of the person, but if we need to use the formula in another question, we need to see if the person they asked for has amount coming short of the Reported DNI.

    FAR : 68, 74, 83 Thank you God 🙂
    BEC : 78 (8/27) 🙂
    REG : 72 ,80 (2/25) 🙂
    AUD : 69,67, 07/23

    #630447
    Mamabear
    Member

    Ah. Thanks! I am writing that formula down. I don't like DNI very much….

    CPA Exam - Finally DONE (November 2014)
    BEC (08/10/13) 80
    AUD (08/24/13) 65 (11/13/13) 85
    FAR (04/12/14) 81
    REG (07/19/14) 69 (11/29/14) 87!!

    #630448
    WANNABE_CPA
    Member

    @mamabear…i just realized that even for the other person who is getting $60000, You have to calculate his amount with the same formula as if you give him $60000, then it exceeds the amount of DNI,

    I m sorry to confuse you again, but i had it down just for one person and i realized its still exceeding the said amount,

    So if asked for other person, it will be this : (60000/150000)*120000

    FAR : 68, 74, 83 Thank you God 🙂
    BEC : 78 (8/27) 🙂
    REG : 72 ,80 (2/25) 🙂
    AUD : 69,67, 07/23

Viewing 15 replies - 1,261 through 1,275 (of 4,354 total)
  • You must be logged in to reply to this topic.