Question
PARTNERSHIP INCOME DISTRIBUTION: For partnership G, if Partner Cs total share of the partnerships net income 300,000 and Partner Cs interest on original capital balance
PARTNERSHIP INCOME DISTRIBUTION: For partnership G, if Partner Cs total share of the partnerships net income 300,000 and Partner Cs interest on original capital balance is 80,000 and Partner Cs share of the remainder of the partnerships net income is 120,000, how much is Partner Cs salary allowance?
| a. 120,000 | ||
| b. 100,000 | ||
| c. 80,000 | ||
| d. 60,000 | ||
| e. None of the above |
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Government and Not for Profit Accounting Concepts and Practices
Authors: Michael Granof, Saleha Khumawala, Thad Calabrese, Daniel Smith
7th edition
1118983270, 978-1119175025, 111917502X, 978-1119175001, 978-1118983270
