ABC LLC Reported the Following Items on the LLC's Schedule

question 117

Multiple Choice

ABC LLC reported the following items on the LLC's Schedule K: ordinary income,$100,000; interest income,$3,000; long-term capital loss,($4,000) ; charitable contributions,$1,000; post-1986 depreciation adjustment,$10,000; and cash distributions to partners,$50,000.How much will ABC show as net income (loss) on its Analysis of Income (Loss) ?

• A)$68,000
• B)$78,000
• C)$95,000
• D)$98,000
• E)$102,000

---

Definitions:

Introduction

The beginning section of a document or speech aimed at giving an overview of the content that follows or introducing a topic.

Conclusion

The final section of a document, presentation, or argument that summarizes the main points and often provides a final opinion or decision.

Routine Replies

Standardized or typical responses provided to frequently asked questions or commonly occurring situations.

Positive Messages

Communications that convey good news, positive feedback, or constructive information, often aimed at uplifting the recipient's mood or reinforcing positive behavior.