question archive The CD equal partnership is in a highly speculative business in which profits fluctuate widely
The CD equal partnership is in a highly speculative business in which profits fluctuate widely
Subject:AccountingPrice: Bought3
The CD equal partnership is in a highly speculative business in which profits fluctuate widely. For the current year the partnership has profits of $80,000 of which $48,000 is ordinary income and $32,000 is long term capital gain. C and D share profits and losses equally unless otherwise provided. C renders services to the partnership which are continuous, related to the function of the partnership and not in the nature of a capital expenditure.
