Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 19 5 points Saved PARTNERSHIP INCOME DISTRIBUTION: For partnership D, if Partner A's salary allowance is 120,000 and Partner A's interest on original capital
Question 19 5 points Saved PARTNERSHIP INCOME DISTRIBUTION: For partnership D, if Partner A's salary allowance is 120,000 and Partner A's interest on original capital balance is 20,000 and Partner A's share of the remainder of the partnership's net income is 30,000, how much is Partner A's total share of the partnership's net income? A.. 170,000 B. 150,000 C. 120,000 D. 100,000 E. None of the above Question 20 What are three advantages of the corporate entity form? A. Has an indefinite life, makes transfer of ownership easy, attaches no personal liability for corporation debts to owners (stockholders) B. Ownership and management are often separated, earnings of the corporation are subject to double taxation, government regulation is expensive C. Attaches no personal liability for corporation debts to owners (stockholders), makes transfer of ownership easy, government regulation is expensive D. Earnings of the corporation are subject to double taxation, has an indefinite life, makes transfer of ownership easy E. None of the above A Click Submit to comnlete this assessment
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started