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ABLE, inc. and The CAPITAL Corporation form a general partnership. Capital provides 90% of the cash. Able provides 100% or the partnerships management.
Their deal is that all profits and losses are allocated 10% to ABLE & 90% to CAPITAL until the partnership has earned a 10% cumulative annual return on original capital.
There after, all profits and losses are shared 50-50. ABLE uses a calendar year tax year. CAPITAL uses a June 30 tax year. What tax years are available to the partnership?
students are required to answer the following question. the essay must be fully referenced with in text citations and a
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