1. yvette, a calendar year taxpayer, is a thirty percent (30%) General Partner in a calendar year Cash Basis Partnership, For the current year, the Partnership received $150,000 Gross Revenues from services rendered and paid the following, amounts: Rent Expense: $20.000, Salary To Employees : $45,000: Guaranteed Payment To yvette : $21.000- Cash Distribution To Partners - $56.000, Payment For Accounting Services - $11.000, Yvette's total Taxable income to be reported from Partnership operations for the current year is
   1. $36,900
   2. $26,400
   3. $15,900
   4. $5,400
2. Shirley formed an equal Partnership with Dorothy by contributing Land with an Adjusted Basis of $25,000 and a fair market value of $35,000 shirley also contributed $15,000 cash to partnership dorothy contributed with an adjusted basis of $11,000 and afair market value of $46,000 the land contributed by shirley had a recourse debt of $14,000 and the land contributed by dorothy had a recourse debt of $10,000 immediately after the formation of the partnership dorothy basis in her partnership interest was:
   1. $0
   2. $10,000
   3. $13,000
   4. $4,000