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Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 402 Weeks Ago, 2 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Bevo Partnership had the following financial activity for the year: Gross receipts from sales 860,000 Cost of goods sold (390,000) Operating expenses (180,000) Business meals & entertainment (20,000) Section 1231 gain on equipment sale 5,000 Distribution to partners (75,000) a. Compute Ted's share of partnership ordinary income and separately stated items. This is the answer I find: Ted's share of: partnership ordinary income $172,000 Section 1231 gain $1,000 nondeductible expenses $2,000 distributions, $15,000 ****** My question is: What are the non-deductible expenses that total $2,000 and how do you figure them?
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