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
Lana71 [14]
3 years ago
13

Edward is a partner in ENS, Ltd. The partnership generated a loss during the current year. Edward's share of the loss was $7,000

. How should Edward handle the loss for tax purposes assuming there are no basis, at-risk, or passive loss limitations?
Business
1 answer:
antiseptic1488 [7]3 years ago
3 0

Answer:

Edward can deduct his $7,000 loss from his adjusted gross income (AGI). Partnerships are investments that you make regardless of whether you work for them or not. One of the key characteristics of partnerships is that they are not taxed as separate entities, they pass-through their income or losses to the  partners.

You might be interested in
The value of the mutual fund's portfolio minus the mutual fund's liabilities divided by the number of shares outstanding is call
lara [203]

Answer:

Net Asset value (NAV)

Explanation:

Net Asset value (NAV) represent per share market value of the fund.It is calculated using the below formula

Net Asset value of fund=Value of mutual fund's portfolio-Mutual fund liabilities/Number of share outstanding.

Mutual fund portfolio normally includes all the cash and securities of a fund.

NAV is normally computed at the end of the end of each trading day based on the closing market prices of the fund portfolio.

6 0
3 years ago
You want to determine the upper control line for a p-chart for quality control purposes. You take several samples of a size of 1
Harlamova29_29 [7]

Answer:

The resulting UCL value for the line is 0.07. The right answer is d

Explanation:

According to the given data we have the following:

P-bar = Fraction defective = 0.05

Sp = Standard deviation = 0.01

In order to calculate the resulting UCL value for the line we have to use the following formula:

UCL = P-bar + (Z x Sp)

Using standard normal table, for 95% confidence level Z=1.96

Therefore, UCL = 0.05 +(1.96x0.01)=

                  UCL = 0.0696, Hence UCL=0.07

The resulting UCL value for the line is 0.07

8 0
3 years ago
Ratio of 10% and assuming that banks keep no excess reserves, imagine that $300 is deposited into a checking account. by how muc
ludmilkaskok [199]
<span>If the ratio of 10% and assuming that banks keep no excess reserves, imagine that $300 is deposited into a checking account, then $ 1,287 is the amount for the money supply to increase if the fed lowers the required reserve ratio to 7%.</span>
4 0
3 years ago
A(n) ______ is maintained for each financial statement item, whereas a(n) ______ contains all of the accounts of the company.
Svetllana [295]

Answer:

An <u>account</u> is maintained for each financial statement item, whereas a(n) <u>general ledger</u> contains all of the accounts of the company.

Explanation:

Financial statements refers to a statement that that provides formal records of all financial activities and standing of a company or any entity in a structured and easily understandable manner.

For each item of financial statement, an account is kept with the aim of giving a an accurate record of all business activities that are germane to that specific financial statement item.

The purpose of a general ledger is to show individual transactions and resulting account balance of each account of a company as a single collection.

Therefore, an <u>account</u> is maintained for each financial statement item, whereas a(n) <u>general ledger</u> contains all of the accounts of the company.

4 0
3 years ago
Let mp = marginal product, p = output price, and w = wage, then the equation that represents a situation where a competitive fir
Rasek [7]
I have no idea haha lol


4 0
3 years ago
Other questions:
  • EB1.
    13·1 answer
  • The ledger of Mai Company includes the following accounts with normal balances: Common Stock, $9,000; Dividends, $800; Services
    13·1 answer
  • Kilt Company had the following information for the year: Direct materials used $ 119,300 Direct labor incurred (5,750 hours) $ 1
    8·1 answer
  • Coyne Corporation is evaluating a capital investment opportunity. This project would require an initial investment of $ 39 comma
    11·1 answer
  • You can now sell 40 cars per month at $20,000 per car, and demand is increasing at a rate of 3 cars per month each month. What i
    15·2 answers
  • Skysong, Inc. is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financial informa
    13·1 answer
  • CoffeeCarts has a cost of equity of ​, has an effective cost of debt of ​, and is financed with equity and with debt. What is th
    5·1 answer
  • Abbot Corporation reported a net operating loss of $440,000 in 20X3, which the corporation elected to carryforward to 20X4. Incl
    11·1 answer
  • Randi Wood wants to become the best manager in the firm. She takes every available opportunity to learn new skills and improve h
    9·1 answer
  • What is the importance of training in profession?​
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!