Lloyd and Harry, equal partners, form the Ant World Partnership. During the year, Ant World had the following revenue, expenses, gains, losses, and distributions:

Given these items, what amount of ordinary business income (loss) and what separately-stated items should be allocated to each partner for the year?

Question

Lloyd and Harry, equal partners, form the Ant World Partnership. During the year, Ant World had the following revenue, expenses, gains, losses, and distributions:
  
Given these items, what amount of ordinary business income (loss) and what separately-stated items should be allocated to each partner for the year?

Quizplus · Accepted Answer

The Answer of Lloyd and Harry, equal partners, form the Ant World Partnership. During the year, Ant World had the following revenue, expenses, gains, losses, and distributions:
  
Given these items, what amount of ordinary business income (loss) and what separately-stated items should be allocated to each partner for the year?

Lloyd and Harry, Equal Partners, Form the Ant World Partnership