1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Rudik [331]
3 years ago
10

Pedro owns a 50% interest in a limited partnership that operates an apartment complex. During the current year, the partnership

generates a taxable rental loss of $42,000. Pedro's other sources of income are a salary of $55,000 and an interest of $18,000. How much of the rental loss can Pedro deduct from his other sources of income
Business
1 answer:
True [87]3 years ago
8 0

Answer:

Pedro can deduct $13,000 from his other income sources and his allowable loss is $0

Explanation:

Solution

Recall that:

Pedro has an interest of 50% in  s limited partnership

In the present year the partnership produces a taxable rental loss of =$42,000

The other sources of income for Pedro is = $55,000 salary

Interest rate = $18,000

The next step to take is to find the rental loss Pedro can deduct from his other sources of income

Thus,

We have to subtract his Other sources of income from The rental loss generated which i stated below:

Other income sources - Rental loss generated

$55,000 - $42000 = $13,000

Both note that the loss from the partnership can be adjusted with salary

So,

The salary loss can be set out with partnership loss

Therefore, Pedro can deduct $13,000 from his other income  sources and his allowable loss is $0

You might be interested in
Cliff Co. wants to purchase a machine for $42,000, but needs to earn a return of 11%. The expected year-end net cash flows are $
grandymaker [24]

Answer:

54 percent

Explanation:

3 0
2 years ago
The term ______ refers to the degree to which a firm uses debt financing (or other types of fixed-cost financing) to fund its op
jek_recluse [69]

Answer:

The term Operating leverage refers to the degree to which a firm uses debt financing (or other types of fixed-cost financing) to fund its operations.

Explanation:

Operating leverage is a measure of how revenue growth translates into growth in operating income

4 0
3 years ago
Gene is looking for a loan so that he can buy a car. There are a few different banks where he can apply for a loan. What should
ElenaW [278]

Answer:

The Answer To This Question is B. a good credit score.

Explanation:

8 0
2 years ago
You are currently earning 12% (APR) compounded semiannually. Your investment company is switching all accounts to daily compound
Sav [38]

Answer:

The rate that will give the same effective annual rate of return is 0.033%.

Explanation:

a) Data and Calculations:

APR = 12%

Semi-annual compound rate = 6% (12/2)

Assumed calendar days in a year = 360 days

Effective daily rate of return = 12%/360 = 0.033%

b) The conversion of semi-annual compounding to daily compounding results in reduced rate of return.  In this case, we assume that there are 360 days in a year.  Since the APR = 12%, it means that the daily rate of return will be 12%/360, which is 0.033%.

6 0
3 years ago
Petrus Framing's cost formula for its supplies cost is $1,860 per month plus $11 per frame. For the month of March, the company
MissTica

Answer:

$355 unfavorable

Explanation:

Budgeted supplies cost was [$1,860 + (635 frames x $ 11)] = ($1,860 + $6,985) = $8,845

Actual supplies cost was $9,200, so the variance was = budgeted cost - actual cost = $8,845 - $9,200 = $355 unfavorable

Since the actual supplies cost was higher than the budgeted supplies cost, then the variance must be unfavorable (because more money was spent than expected).

4 0
3 years ago
Other questions:
  • explain the effect of a price ceiling on the quantity of a good and who this intervention intends to assist.
    11·1 answer
  • A corporation issued 80 shares of no par value common stock for $800 cash. Based on this information, the credit to the common s
    13·1 answer
  • The minimum monthly payment for Rebecca's credit card is 2% of her balance or $15, whichever is higher. If Rebecca's balance at
    15·2 answers
  • 3. What's considered a retail service?
    9·2 answers
  • rayer Corporation has income from continuing operations of $319,000 for the year ended December 31, 2017. It also has the follow
    6·1 answer
  • Financial accounting primarily provides information to which group of decision makers?
    11·1 answer
  • One hundred of the voters in a town are willing to pay $100 each to support a public green space, which will cost $10,000 to bui
    9·1 answer
  • An investor buys a $10,000 par, 4.25 percent annual coupon TIPS security with three years to maturity. If inflation every six mo
    8·1 answer
  • Suppose that you buy a two-year 7.4% bond at its face value. a-1. What will be your total nominal return over the two years if i
    7·1 answer
  • What is the best way to deal with a negative experience with a past employer or job if it comes up during your interview?
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!