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Lilit [14]
3 years ago
11

Answer the following statement true (T) or false (F):Mark is a cash basis taxpayer. He is a partner in the M & M partnership

, and his share of the partnership's profits for 2019 is $90,000. Only $40,000 was distributed to him in January 2019, and this was his share of the 2018 partnership profits. None of the 2019 profits was distributed. Mark's gross income from the partnership for 2019 is $40,000.
Business
1 answer:
BaLLatris [955]3 years ago
4 0

Answer:

None of the 2019 profits was distributed. TRUE, you cannot distribute profits before you make them. The year has just started, so any distributions must correspond to the prior year.

Mark's gross income from the partnership for 2019 is $40,000. FALSE, a partnership is a pass through entity, and each partner is responsible for his/her complete share of the profits. In this case, Mar's income = $90,000

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Yes, Johnson’s apology is one that calls for awareness regarding the issue as he did apologized to the two men who were involved in the case and also carried on some changes to prevent such scenarios from ever occurring again.

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<h3>Did his apology and actions promote awareness of an ethical issue? </h3>

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<h3>Did Johnson’s apology and follow-up actions uphold Starbucks’ mission and core values? </h3>

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