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April is a 30% limited partner in Autumn Reflections. She also receives a guaranteed payment of $3,000 per year in exchange for bookkeeping services she
April is a 30% limited partner in Autumn Reflections. She also receives a guaranteed payment of $3,000 per year in exchange for bookkeeping services she provides. In 2023, the partnership recieved ordinary business income of $120,000. What is the total amount reported as net earnings from self-employment in box 14 of April's Schedule K-1 (Form 1065)? A. $0 B. $3,000 C. $36,000 D. $39,000
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Financial Accounting An Integrated Statements Approach
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
2nd Edition
324312113, 978-0324312119
