Answer:
$120,000
Explanation:
Calculation to determine How much of the passive loss is deductible
Using this formula
Deductible passive loss=Passive loss-Active income
Let plug in the formula
Deductible passive loss=$240,000-$120,000
Deductible passive loss=$120,000
Therefore How much of the passive loss is deductible is $120,000
Answer:
A. to the company's system of internal controls.
Explanation:
The statement of responsibility is a statement that is usually in line with the laid down rules and the regulation of the governing body. It is a statement of the procedures that shows that the management is able to maintain a good and effective internal controls over financial reports. These are to show how reliable the informations are and to see that proper authorizations are given for transactions and that assets are safe.
Answer:
$94,360
Explanation:
Calculation to determine what The equivalent units of production for the period for conversion costs were
Equivalent units of production=[$84,300+ ($50,300 * 20% ]
Equivalent units of production=$84,300+$10,060
Equivalent units of production=$94,360
Therefore The equivalent units of production for the period for conversion costs were $94,360
Yes different situations call for different measures
The majority is a big business but some of them are small