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Which reported on a partnership financial statements report

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Reference no: EM132775787

Problem 1: which of the following is reported on a partnership's financial statements report?

a. Net income on the balance sheet

b. Expenses on the balance sheet

c. Revenues on the income statement

d. Liabilities o the income statement

Problem 2: The NBC company reports net income of 3,000,000. if partners of N, B, C have icome ratios of 50%, 30% and 20% respectively, what is C's share of the net income?

a. 600,000

b. 900,000

c. 1,500,000

d. none of these

Reference no: EM132775787

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