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
If generalization is observed when the independent variable is introduced to the first baseline in the multiple baseline design,
MrRa [10]
The best answer that completes the statement above is this: CHANGING CRITERION DESIGN.
This question is based on the use of a double-blind study. When we say double-blind study, from the term itself double-blind, it means that neither the experimenters nor the sample or participants are going to receive the treatment of the said experiment. This kind of study is typically used in order to remove bias in the research results. Hope this helps.
3 0
4 years ago
All of these factors affect supply EXCEPT:
Elanso [62]

Answer:

it is b

Explanation:

because a net worth of a company will mot affect

5 0
2 years ago
Consider the relative liquidity of the following assets:
motikmotik

Answer:

Liquidity of an asset refers to how easily convertible the asset is to cash or so called liquid money.

Most Liquid - A $5 bill

This is already cash so it is the most liquid there is.

Second-Most Liquid  - The funds in a money market account

Funds in a money market account are the second most liquid because most often they can simply be withdrawn from the fund. There might be limits on the number of withdrawals allowed though within a period.

Third-Most Liquid  -  A share in a publicly traded company

A share in a publicly trade company ranks here because to realize the cash, one would need to sell the share first.

Least Liquid - Your house

Your house will be the most difficult of these to liquidate as it will involve a much longer process to eventually get it sold and realize cash. The process will include but will not be limited to, advertising, hiring realtors, inspection etc.

7 0
3 years ago
Suppose Deborah gets a sales bonus at her place of work that gives her an extra $600 of disposable income. She chooses to spend
Mashutka [201]

Answer:

Option (d) is correct.

Explanation:

Suppose Deborah gets a sales bonus at her place of work,

Disposable Income, YD = $ 600

Consumption, C = $480

Savings , S = $ 120

Marginal propensity to consumer, MPC:

= Consumption ÷ Disposable Income

= 480 ÷ 600

= 0.8

Therefore, Deborah marginal propensity to consume (MPC) is 0.80

Option (d)

7 0
4 years ago
Cantrell Company is required by law to collect and remit sales taxes to the state. If Cantrell has $6,500 of cash sales that are
Mademuasel [1]

Answer:

Journal Entry

General Ledger                   Dr.          Cr.

Cash                                 $7,085

Sales Tax Payable                           $585

Sales                                                 $6,500

Explanation:

Sales tax is the amount of tax collected by the business on the taxable sales from customers on behalf of government and pay it to government after that. Sales tax will be included in the cash received from the customer and recorded as the payable for the business.

Sales Value = $6,500

Sales Tax = 9%

Sales inclusive of Sales tax = $6,500 x 109% = $6,500 x 1.09 = $7,085

8 0
3 years ago
Other questions:
  • Whether a buyer or a seller pays more of a commodity tax depends on:
    5·2 answers
  • For years 2010 to 2015, the computers produced and shipped in highest quantity were _____. (note: all the choices represent a ki
    15·1 answer
  • The unemployment rate reported by the Bureau of Labor Statistics includes all of the following type of unemployment with the exc
    11·1 answer
  • PLEASE HELP WILL GIVE BRAINLIEST TO CORRECT ANSWER
    13·2 answers
  • Pelican, Inc. had revenues of $395,000, expenses of $155,000, and dividends of $54,000 during the current year. Based on the giv
    13·1 answer
  • For which capital component must you make a tax adjustment when calculating a firmâs weighted average cost of capital (WACC)?
    7·1 answer
  • Each of these items must be considered in preparing a statement of cash flows for Flint Corporation. for the year ended December
    8·1 answer
  • 2. Find the lump sum that must be set aside today to make quarterly payments of $9,000 for 10 years, assuming 8% compounded quar
    12·1 answer
  • When there is disagreement among members at the same level of marketing channels, such as when best buy and sears engage in a pr
    10·1 answer
  • what is the present value of a deferred perpetuity that pays $141 annually with the first payment occurring at year 5? assume th
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!