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At year-end the partnership reported net income of 15000

Question - Jason purchased a 20% interest in JKL Partnership for $20,000 at the beginning of the year. At year-end, the partnership reported net income of $15,000 and distributed $2,000 cash to Jason. What is Jason's year-end basis?

$20,000

$21,000

$23,000

$33,000

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Accounting Basics: At year-end the partnership reported net income of 15000

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Accounting Basics: At year-end the partnership reported net income of 15000

Reference No:- TGS02590704

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