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Ostrovityanka [42]
1 year ago
13

Stephanie is a calendar year cash basis taxpayer. She owns a 50% profit and loss interest in a cash basis partnership with a Sep

tember 30 year-end. The partnership’s operating income (after deducting guaranteed payments) was $120,000 ($10,000 per month) and $144,000 ($12,000 per month), respectively, for the partnership tax years ended September 30, 2011 and 2012. The partnership paid guaranteed payments to Stephanie of $2,000 and $3,000 per month during the fiscal years ended September 30, 2011 and 2012. How much will Stephanie’s adjusted gross income be increased by these partnership items for her tax year ended December 31, 2011?
A. $60,000.
B. $72,000.
C.$84,000.
D. $90,000.
E. $108,000
Business
1 answer:
Nastasia [14]1 year ago
8 0

Answer:

d. 90,000

Explanation:

Amount received from partnership

                                                          2011                           2012

operating income                         60,000                         72,000

                                             (50% of 120,000)           (50% 0f 144,000)

guaranteed payments                  24,000                           36,000

                                              (2,000 × 12)                      (3,000 × 12)

    Total                                       84,000                            108,000

84,000 × 9/12 (from 1 jan 2011 - 30 sept 2011) = 63,000

108,000 × 3/12 (from 1 oct 2011 - 31 dec 2011) = 27,000

Total = 90,000 option d

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Explanation:

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We need to purchase to fullfil the inventory for this amount of units.

<u>Now we have to calculate each component:</u>

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Next, we multply the purchase requirement per amount per tpye of unit. Once we got total quantity me multiply by the cost.

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Consider a two-server parallel queuing system where customers arrive according to a poisson process with rate λ, and where the s
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comprehensive

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determining who is responsible for a crime: History does not much speak or research about crime. Only detectives will do research on crime. This option is invalid.

collecting evidence to answer a question:

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studying evidence to solve a problem

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