Ward owns 50 percent of teal company a calendar year

Reference no: EM13370994

Ward owns 50 percent of Teal Company (a calendar year partnership). For tax year 2010, the partnership reported ordinary business income of $140,000, dividend income of $12,000, and interest income of $16,000. For 2010, Ward's individual tax return may report:

a. Nothing related to the partnership's activity.

b. $140,000 of ordinary business income, $12,000 of dividend income, $16,000 of interest income, earned by partnership.

c.$70,000 of ordinary business income, $6,000 of dividend income, and $8,000 of interest income, earned by partnership.

d.Only $70,000 of ordinary business income, earned by partnership.

Reference no: EM13370994

Questions Cloud

There are classically seven general steps used in assigning : there are classically seven general steps used in assigning costs to individual jobs under the job costing approach.

List and explain three ways a firm can determine long-run : list and explain three ways a firm can determine long-run prices. as part of your answers be sure to explain when each

Scape corp manufactures phony equipment scape leased : scape corp. manufactures phony equipment. scape leased equipment to user inc. on 1st january 2013. scape produced the

Leland manufacturing uses 10 units of part kj37 every month : leland manufacturing uses 10 units of part kj37 every month in the production of radar equipment. the accountant says

Ward owns 50 percent of teal company a calendar year : ward owns 50 percent of teal company a calendar year partnership. for tax year 2010 the partnership reported ordinary

Public community hospital is supported by contributions : public community hospital is supported by contributions from community and the fees that it collects from patients for

Look at the financial statements of the ford motor company : look at the financial statements of the ford motor company. evaluate the following ratios for fordasset turnover profit

Melanie is the head of two different departments in the : melanie is the head of two different departments in the similar company. the toys department is doing very well but the

In 2012 brittany who is single cares for her father raymond : in 2012 brittany who is single cares for her father raymond. brittany pays the bills relating to raymonds home. she

User Account

All Pages