Julian and Tanya Each Contribute $50,000 Cash to Form the M&T

question 46

Multiple Choice

Julian and Tanya each contribute $50,000 cash to form the M&T Partnership on January 4,2017.Julian and Tanya share profits and losses in the ratio of 60% and 40%,respectively.During 2017,the partnership generates ordinary income of $80,000.A cash distribution of $5,000 is made to Julian in December 2017.How much income must Julian recognize from the partnership in 2017?

• A)$5,000
• B)$32,000
• C)$45,000
• D)$48,000
• E)$53,000

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Definitions:

Illness Behavior

The way individuals respond to symptoms of illness, including how they monitor their body, define and interpret their symptoms, and seek treatment.

Seeking Professional Care

The act of consulting with healthcare professionals or specialists in order to receive advice, diagnosis, or treatment for health-related issues.

Healing Presence

The supportive and calming influence of a caregiver or healer, often contributing to a patient's recovery.

Flexible Visitation

A policy in healthcare settings that allows patients to have visitors outside of traditional visiting hours, accommodating the needs and preferences of both patients and their visitors.