Delta Partnership has four equal partners. At the beginning of the year, Drew was one...
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Accounting
Delta Partnership has four equal partners. At the beginning of the year, Drew was one of the Delta partners, but on October 1, he sold his partnership interest to Cody. Required: If Delta's ordinary income for the year was $476,000, what portion of this income should be allocated to Drew, and what portion should be allocated to Cody? (Assume 365 days in a year. Round income per day of ownership to 4 decimal places. Round your final answers to the nearest whole dollar amount.) Amount Drew's income Cody's income
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