Marsha is a 30%, partner in the MNO partnership. Niles and Oprah each have a 35% interest

Question:

Marsha is a 30%, partner in the MNO partnership. Niles and Oprah each have a 35% interest in the partnership. The partnership earns $100,000 from ordinary operations before considering a $10,000 guaranteed payment co Marsha. How much income does each partner report from the partnership?

Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...

Fantastic news! We've Found the answer you've been seeking!