What is the amount of partnership income alpha

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Reference no: EM133611517

Question: Alpha Corp. and Beta Corp., two unrelated corporations, both have December 31 year-ends. They formed a new partnership on October 1, 2022, with a fiscal year-end of September 30. The partnership earned $120,000 in its first year ended September 30, 2023, and $70,000 for the period October 1 to December 31, 2023. Partnership income is shared 95% to Alpha and 5% to Beta. What is the amount of partnership income Alpha would report for its December 31, 2023, year-end?

Reference no: EM133611517

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