Question
PARTNERSHIP INCOME DISTRIBUTION: For partnership H, if Partner Ds total share of the partnerships net income 300,000 and Partner Ds salary allowance is 120,000 Partner
PARTNERSHIP INCOME DISTRIBUTION: For partnership H, if Partner Ds total share of the partnerships net income 300,000 and Partner Ds salary allowance is 120,000 Partner Ds share of the remainder of the partnerships net income is 150,000, how much is Partner Ds interest on original capital balance?
| a. 50,000 | ||
| b. 40,000 | ||
| c. 30,000 | ||
| d. 20, 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
