Question
Problem 09-58 (LO 09-4) (Algo) Skip to question [The following information applies to the questions displayed below.] Turtle Creek Partnership had the following revenues, expenses,
Problem 09-58 (LO 09-4) (Algo) Skip to question [The following information applies to the questions displayed below.] Turtle Creek Partnership had the following revenues, expenses, gains, losses, and distributions: Sales revenue $ 49,000 Long-term capital gains $ 3,400) Cost of goods sold $ (21,650) DepreciationMACRS $ (7,400) Amortization of organization costs $ (1,260) Guaranteed payments to partners for general management $ (13,500) Cash distributions to partners $ (3,800) rev: 11_08_2021_QC_CS-284862 Problem 09-58 Part a (Algo) a. Given these items, what is Turtle Creeks ordinary business income (loss) for the year?
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