Question
Suz-Anna is an partnership with two equal partners, Suzy and Anna. This year, Suz-Anna recorded the following items of income and expense: Sales revenue $
Suz-Anna is an partnership with two equal partners, Suzy and Anna. This year, Suz-Anna recorded the following items of income and expense:
| Sales revenue | $ 500,000 |
|---|---|
| Interest income | 6,000 |
| Long-term capital gain | 10,000 |
| Cost of goods sold | (250,000) |
| Salary and wages | (75,000) |
| Other operating expenses | (55,000) |
Suz-Anna distributed $25,000 to each of its partners during the year. If Suzy has no other sources of income, what is her gross income for the year?
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Human Resource Management
Authors: Robert L. Mathis, John H. Jackson
13th Edition
053845315X, 978-0538453158
