How much must Partner B report in his income tax return

Assignment Help Accounting Basics
Reference no: EM132608408

Question - Partner A earns $68,000 from a partnership. Partner B earns $57,000, but withdraws only $49,000. How much must Partner B report in his income tax return as income?

a. $49,000

b. $125,000

c. $117,000

d. Not enough Information to be determined.

Reference no: EM132608408

Questions Cloud

How each component contributes to the imc : An increasing trend in marketing communications is to use "content marketing." Discuss the components of content marketing described in the article.
Example of a good or service with inelastic demand : Provide an example of a good or service with inelastic demand and another good or service with elastic demand
Calculate the contribution margin variance : Calculate the contribution margin variance. Nanerty Inc. produces two types of backpacks: basic and deluxe. The basic backpack sells for $25 and the deluxe sell
Natural rate of unemployment : Consider an economy with SRAS curve: Y = Ybar + a(P - EP) Where Ybar is the natural rate of output and EP is the expected price level.
How much must Partner B report in his income tax return : Partner B earns $57,000, but withdraws only $49,000. How much must Partner B report in his income tax return as income
Describe how the success of a pr campaign can be measured : Evaluate how the success of a PR campaign can be measured. Support your position. Incorporate concepts and examples from this week's lecture in your post.
How do calculate income statement using marginal costing : How to Reconcile profits between marginal costing and absorption costing. How do calculate income statement using marginal costing
Spending result in medical facilities : But what about demand for services that retired people need, such as medical care? Won't that spending result in medical facilities
Incorporate the concepts of game theory : Incorporate the concepts of game theory with international trade and tariffs. Set up two payoff matrices. Set up the first payoff matrix

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd