Question
PARTNERSHIP INCOME DISTRIBUTION: For partnership F, if Partner Bs salary allowance is 100,000 and Partner Bs interest on original capital balance is 10,000 and Partner
PARTNERSHIP INCOME DISTRIBUTION: For partnership F, if Partner Bs salary allowance is 100,000 and Partner Bs interest on original capital balance is 10,000 and Partner Bs share of the remainder of the partnerships net income is 10,000, how much is Partner Bs total share of the partnerships net income?
| a. 170,000 | ||
| b. 150,000 | ||
| c. 120,000 | ||
| d. 100,000 | ||
| e. None of the above |
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Core Concepts of Accounting Information Systems
Authors: Mark G. Simkin, Jacob M. Rose, Carolyn S. Norman
12th edition
1118022300, 978-1118022306
