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

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Definitions:

Divisional Structures

An organizational framework where the entity is divided into semi-autonomous units or divisions, each responsible for a particular business function or geographic area.

Functional Specializations

The division of work into distinct areas, each with its own expertise and responsibilities, within an organization.

Functional Structures

An organizational design where departments are divided based on specific functions or roles, such as marketing, finance, and operations.

Professional Identity

The self-concept based on attributes, beliefs, values, motives, and experiences as they relate to one's profession or career.