Solution-How much is the total partnership net income

How much is the total partnership net income

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Question - PARTNERSHIP INCOME DISTRIBUTION: For partnership Y, if total partners salary allowances are 300,000, total interest on the partners' original capital balances is 400,000, and the remainder of the partnership's net income is 200,000, how much is the total partnership net income?

a. 900,000

b. 800,000

c. 300,000

d. 100,000

e. None of the above

Reference no: EM132789343

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How much is the total partnership net income

Reference no: EM132789343

Reference no: EM132789343

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