William (40% of gains and losses) . . . . .  . . . . $ 220,000Jennings (40%) . . . . . . . . . . .. 160,000 Bryan (20%) . . . . . . . . . . . . . . 110,000 Darrow invests $250,000 in cash for a 30 percent ownership interest. The money goes to the business. No goodwill or other revaluation is to be recorded. After the transaction, what is Jennings’s capital balance? Choose the correct.a. $160,000b. $168,000c. $170,200d. $171,200

Q: A. 109,650 B. 108,000 C. 106,350 D. 110,000

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Filing Federal Income Tax Return

A tax is the amount of money paid to the government on the revenue earned by the individual or business organization. It acts as an income for the government and an expense for the individual or business organization. There are different regulations regarding filing an income tax return in other countries.