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noname [10]
2 years ago
12

Ellen loans Nicole $45,000 to start a hair salon. Unfortunately, the business fails in 2019 and she is unable to pay back Ellen.

In 2019, Ellen also had $20,000 of income from her part-time job and $15,000 of capital gain from the sale of stock. How much of the $45,000 bad debt can Ellen claim as a capital loss in 2019? a. $12,000, with $33,000 carried forward to 2020 b. $0 c. $18,000, with $27,000 carried forward to 2020 d. $15,000, with $30,000 carried forward to 2020 e. $35,000
Business
1 answer:
Dahasolnce [82]2 years ago
5 0

Answer:

c. $18,000, with $27,000 carried forward to 2020.

Explanation:

Non-business bad debts are accounted as short-term capital losses. Short-term and long-term capital gains may be offset by short-term capital losses. Ellen may offset $15,000 of her $45,000 bad debt from Nicole against the $15,000 capital gain from the sale of stock.

In addition, Ellen may claim up to the annual limitation amount of $3,000 in short-term capital losses. In total, $18,000 of the bad debt can be claimed as a capital loss in the current year with $27,000 in unused short-term capital losses carried forward.

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A farm equipment manufacturer has already spent $3 million in research and development to design a new model of tractor. To prod
lina2011 [118]

Answer:

$20,000

Explanation:

Data provided in the question:

Amount spent on research and development = $3 million

Rent = $20 million = $20,000,000

Materials and wages = $10,000 per tractor

Number of tractors to be sold = 2,000

Now,

The lowest price will be when the company attains the break-even

thus,

At break-even point

Total cost = Total revenue

let the lowest cost be 'x'

therefore,

2,000x = $20,000,000 + ( $10,000 × 2,000 )

or

2,000x = $20,000,000 + $20,000,000

or

2,000x = $40,000,000

or

x = $20,000

6 0
3 years ago
Which of the following types of teams is the most autonomous?A. Self-managing teamsB. Quality circlesC. Semiautonomous work grou
coldgirl [10]

Explanation:

Autonomy -

It is refers to the degree to which the workers have the freedom , discretion , independence , so as to decide when and how to accomplish their jobs .

Hence , from the options given in the question ,

  • The most autonomous are the self designing teams and the  self - managing teams .
  • The least autonomous are the employee involvement groups and the  traditional work groups .
  • The moderate autonomous is the semi autonomous work groups .
7 0
3 years ago
Which is an example of new media?
bulgar [2K]

New media are forms of media from computers or that rely on computer/digital technology (old media are phones,radios, etc)

Examples of new media: computers, online databases, you tube, social media networks, online news articles, etc.

3 0
3 years ago
Answer the following questions about prepaid​ expenses:
pochemuha

Answer:

the numbers are missing, so I looked for a similar question:

a. On ​1, Tree Service prepaid $7,200 for six​ months' rent. Give the adjusting entry to record rent expense at Include the date of the entry and an explanation. Then post all amounts to the two accounts​ involved, and show their balances at adjusts the accounts only at ​31, the end of its fiscal year.

Dr Rent expense 1,200 (= $7,200 / 6)

    Cr Prepaid rent 1,200

Balances:

Prepaid rent 6,000

Rent expense 1,200

b. On ​1, Tree Service paid $1,050 for supplies. At ​31, has $400 of supplies on hand. Make the required journal entry at 31. Then post all amounts to the accounts and show their balances at 31. Assume no beginning balance in supplies.

Dr Supplies expense 650 (= $1,050 - $400)

    Cr Supplies 650

Balances:

Supplies 400

Supplies expense 650

c. On ​1, Tree Service prepaid for six​ months' rent. Give the adjusting entry to record rent expense at Include the date of the entry and an explanation. Then post all amounts to the two accounts​ involved, and show their balances at adjusts the accounts only at ​31, the end of its fiscal year. Prepare the adjusting journal entry to record the rent expense at 31.

SAME AS QUESTION A

6 0
3 years ago
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klemol [59]

umm screw tis it is odd amd very werid but this is stupid and very dumb and stupid why fo you even bote to be on brainlt this app is good but if ypu want t answer domething like this then talk y albert einstine oh wait hes dead lol ok so the answer is noting because it is hard andery not easy you van figurit out ursepf bye lol

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