On september 30 partner c buys ½ of partner a’s interest in the equal ab calendar-year partnership, so a and c each own 25% after the sale. for the year, the partnership earns income of $2,000 a month for january through august, and $6,000 a month for september through december. how much income will a and c each have from the partnership under (a) the interim closing method and (b) the proration of partnership income method?
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On september 30 partner c buys ½ of partner a’s interest in the equal ab calendar-year partnership,...
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