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Is it possible that her share of annual partnership income

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Question - During the current year, Marsha Engles, a partner, withdrew $4,000 monthly in cash from the partnership of Engles and Cox Water Management Consultants.

Is it possible that her share of the annual partnership net income for the current year might be more or less than the $48,000 ($4,000 x 12 months) she withdrew in cash? Explain.

What is the difference between a cash withdrawal and an allocation of partnership income?

Does an allocation of partnership income result in a cash distribution to the partner? Explain.

Reference no: EM133109191

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