anice has a 30% interest in the Jansen Partnership. She is to receive a guaranteed payment for deductible services of $50,000. The partnership reports $30,000 of ordinary income and a $100,000 long-term capital gain before deducting the guaranteed payment. What is her income from the partnership?
What will be an ideal response?
Janice will report the guaranteed payment of $50,000. She will also report her distributive share of the partnership's ordinary loss, $6,000 [0.30 × ($30,000 - $50,000)] and her distributive share of the partnership's long-term capital gain, $30,000 (0.30 × $100,000).
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Answer the following statement true (T) or false (F)
L & M loaned Joan $400 so that she could buy her textbooks for the current semester. L & M's terms for repayment of the loan (including interest) are $200 in two months, $200 in four months, and another $100 at the end of the fifth month. The legal maximum rate of interest on this type of loan is 6 percent per annum. L & M's loan is usurious.
Answer the following statement true (T) or false (F)
The 99% confidence interval estimate for a population variance when a sample standard deviation of 12 is obtained from a sample of 10 items is
A. 4.589 to 62.253. B. 46.538 to 422.171. C. 54.941 to 746.974. D. 62.042 to 562.895.
Federal regulation ______ state regulation
a. is more detailed than b. never takes precedence over c. occasionally takes precedence over d. is weaker than e. none of the other choices are correct