(Answered) Question - barb and ken are partners in the playhouse

Accounting

Question - Barb and Ken are partners in the Playhouse Partnership. They received guaranteed payments of $250,000 each and no other guaranteed payments were made by the partnership. Playhouse Partnership also reported the following items of income and expense for the current year:

Income from operations $1,050,000

Dividends from Montreal-based corporation 225,000

Interest on Sears bonds 125,000

Real estate taxes on property used for office 50,000

What is Playhouse Partnership's ordinary income for the current year?

A $850,000

B $550,000

C $500,000

D $625,000

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