On January 1, 20X9, Mr

question 23

Essay

On January 1, 20X9, Mr. Blue and Mr. Grey each contributed $100,000 to form the B&G general partnership. Their partnership agreement states that they will each receive a 50% profits and loss interest. The partnership agreement also provides that Mr. Blue will receive an annual $36,000 guaranteed payment. B&G began business on January 1, 20X9. For its first taxable year, its accounting records contained the following information.
The $3,000 of interest was paid on a $60,000 loan made to B&G by Key Bank on June 30, 20X9. B&G repaid $10,000 of the loan on December 15, 20X9. Neither of the partners received a cash distribution from B&G in 20X9.
Complete the following table related to Mr. Blue's interest in B&G partnership:

---

Definitions:

Font Color Gallery

A graphical interface feature that allows users to select from a range of font colors.

Design Tab

In software applications, the Design Tab is an element of the interface that provides tools and options for modifying the appearance and layout of a document or project.

Color Group

A collection of colors that are designed to work well together in designs and visual projects.

Level

Indicates a specific stage or position in a hierarchical structure or progression.