Luisa, Lois, and Lucy operate a boutique named Mariabelle's Dreams. Based on advice from Luisa's sister, an accountant, the three form a partnership. Luisa owns 40% and Lois and Lucy each own 30%. For the year, Mariabelle's Dreams reports the following: What amount will Mariabelle's Dreams report to Luisa as her ordinary income from the partnership?
A) $54,000
B) $54,400
C) $54,800
D) $55,600
E) $ 56,000

Question

Luisa, Lois, and Lucy operate a boutique named Mariabelle's Dreams. Based on advice from Luisa's sister, an accountant, the three form a partnership. Luisa owns 40% and Lois and Lucy each own 30%. For the year, Mariabelle's Dreams reports the following:  What amount will Mariabelle's Dreams report to Luisa as her ordinary income from the partnership?
A) $54,000 
B) $54,400 
C) $54,800 
D) $55,600 
E) $ 56,000

Quizplus · Accepted Answer

The Answer of Luisa, Lois, and Lucy operate a boutique named Mariabelle's Dreams. Based on advice from Luisa's sister, an accountant, the three form a partnership. Luisa owns 40% and Lois and Lucy each own 30%. For the year, Mariabelle's Dreams reports the following:  What amount will Mariabelle's Dreams report to Luisa as her ordinary income from the partnership?
A) $54,000 
B) $54,400 
C) $54,800 
D) $55,600 
E) $ 56,000

Luisa, Lois, and Lucy Operate a Boutique Named Mariabelle's Dreams