QUESTION 16 AT Pet Spa is a partnership owned equally by Travis and Ashley. The partnership had the following revenues and expenses this year Revenues Salary expense (nonpartners) Charitable contributions Supplies expense Insurance expense Depreciation (no Sec. 179 amounts) Dividend income Long-term capital gain What is the partnership's ordinary income? A) $150,000 OB) $117,000 OC) $160,000 OD) $147,000 $500,000 250,000 hs 1,000 40,000 50,000 10,000 2,000 30,000
QUESTION 16 AT Pet Spa is a partnership owned equally by Travis and Ashley. The partnership had the following revenues and expenses this year Revenues Salary expense (nonpartners) Charitable contributions Supplies expense Insurance expense Depreciation (no Sec. 179 amounts) Dividend income Long-term capital gain What is the partnership's ordinary income? A) $150,000 OB) $117,000 OC) $160,000 OD) $147,000 $500,000 250,000 hs 1,000 40,000 50,000 10,000 2,000 30,000
Chapter20: Corporations And Parterships
Section: Chapter Questions
Problem 6BCRQ
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