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Morris partnership had the following items in the current

Question - Morris Partnership had the following items in the current year:

Income from clients $ 200,000

Dividend income 500

Depreciation 2,000

Operating expenses 125,000

Repairs 1,000

Charitable contributions 1,500

Sec. 1245 gain 1,000

Sec. 1231 gain 1,200

a. What is Morris's ordinary net income?

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Accounting Basics: Morris partnership had the following items in the current

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