Alex, ellen and nicolas are equal partners in a local restaurant. the restaurant reports the following items for the current year: business revenue $770,000 business expenses 470,000 investment expenses 150,000 each partner receives a schedule k-1 with one-third of the preceding items reported to him/her. how must each individual report these results on his/her form 1040? $100,000 income on schedule e; $50,000 investment expense on schedule a $257,667 income on schedule e; $50,000 investment expense on schedule a $300,000 income on schedule e; $50,000 investment expense on schedule a $300,000 income on schedule e; $150,000 investment expense on schedule a

Tiana daniels enterprise’s trial balance as at december 31, 2016 did not balance. on february 15, 2017 the following errors were detected: errorsi. water rates had been undercast by $2, 000.  ii. a cheque paid to yvonne walch of $2, 680 had been posted to the credit side of her account.  iii. discount received total of $1, 260 had been posted to the debit side of the discount allowed account as $1, 620.  iv. rent paid in the amount of $24, 000 had been posted to the credit of the rent received account.  v. wayne returned goods valuing $1, 680 to daniels enterprise but had been completely omitted from the books.    required: 1. prepare the journal entries to correct the errors.  (narrations required)                    14.5 marks  2.    prepare the suspense account showing clearly the original trial balance error.          8 marks

Carmen co. can further process product j to produce product d. product j is currently selling for $20 per pound and costs $15.75 per pound to produce. product d would sell for $38 per pound and would require an additional cost of $8.55 per pound to produce. what is the differential revenue of producing product d?

What is one counter argument to the premise that the wealth gap is a serious problem which needs to be addressed?