Answer:
Lia may deduct $110,000 and $135,000 of the net passive losses in 2017 and 2018 respectively.
Explanation:
2017 Passive Activity Limitations $190,000
Passive Income ($80,000) – loss allowed to the extent of passive income
Suspended Passive Activity Limitations $110,000
2018 Passive Activity Limitations $190,000
Passive Income ($55,000) – loss allowed to the extent of passive income
Suspended Passive Activity Limitations $135,000
$245,000 Suspended Passive Activity Limitations
This was 4 years ago - 32 Michele - 35 Shelly
Now - Michele is 36, Shelly is 39
Answer:
C) a debit to Merchandise Inventory and a credit to Accounts Payable
Explanation:
The journal entry to record the purchase of inventory on account by using the perpetual inventory system is shown below:
Merchandise Inventory A/c Dr XXXXX
To Accounts Payable A/c XXXXX
(Being merchandise is purchase on credit)
Simply we debited the merchandise inventory account and credited the account payable account so that the correct posting can be done.
Answer: C. Use a mix of serif and sans serif fonts for the text.
Explanation:
The good guideline to follow regarding the use of handouts are making sure that all elements are aligned appropriately with other elements, never distribute a handout after the beginning of a presentation and by making sure that the handouts have an obvious front door and clear pathway.
The option about using a mix of serif and sans serif fonts for the text is not good. This is because the preferred font is usually Times New Roman.
Answer:
3.4%
Explanation:
According to the capital asset price model: Expected rate of return = risk free + beta x (market rate of return - risk free rate of return)
9.7 = 5.2 + 1.34(x - 5.2)
9.7 - 5.2 = 1.34(x - 5.2)
3.35 = x - 5.2