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Alika [10]
3 years ago
13

Bill took out a $100,000 non-recourse loan and bought an apartment building. The building is not security for the loan. Bill spe

nt $25,000 of his own money on repairs before he rented the apartment building to the public. Bill is single, works full-time, and earns $80,000 per year. Bill’s loss from the rental real estate activity, in which he actively participates, is $30,000. He has no passive income. For what amount is Bill at-risk, and how much of Bill’s passive loss from his rental activity is deductible?
Business
1 answer:
natta225 [31]3 years ago
3 0

Answer:

Bill has $25,000 at-risk and he can also deduct $25,000 from his income due to the losses associated with his rental activity.

Explanation:

At risk amounts are the money that investors can lose due to a bad business decision or performance. The maximum amount that an investor can deduct is equal to the at-risk amount that he/she has invested.

Bill's at-risk $25,000 are equal to the money he spent on house repairs.

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4 0
2 years ago
Due to increased corporate responsibilities, the manager of a sporting goods store has asked the assistant manager to take respo
Dahasolnce [82]

Answer:

B. Leadership

Explanation:

Leadership is the art for encouraging the people towards attaining a common goal. In this, it give directions to the workers & colleagues in order to meet out the needs of the company by having a strategy.

Since in the question it is mentioned that manager permit the assitant to make the decision but also scheduled the weekly meeting

So here the manager represent the leadership attribute

6 0
3 years ago
In determining whether to issue a loan, banks are not allowed to ask about an applicant's
Firlakuza [10]

Answer:

country of origin.

Explanation:

Banks have a set of requirements that borrowers need to meet to qualify for a bank loan. The banks will ask questions to determine if the customer is eligible for a loan. Most of the questions pertain to the purpose of the loans and the customer's ability to repay.

The bank will ask about employment history, credit history, tax information, personal information, the purpose of the loan,  collateral, and other questions related to the ability to repay. A person's country of origin is unnecessary and may elicit elements of discrimination.

3 0
3 years ago
Read 2 more answers
True or False: Your landlord, the over of your rental property, has the right to enter your apartment, any time he wants to
weeeeeb [17]

Answer:

false

Explanation:

he/she is not allowed to enter at any time because he/she does not have the right to enter the home if you are not there.

5 0
3 years ago
Assume that an equity investment that lacks significant influence is sold. Which of the following would be included in the two e
Anastasy [175]

Answer:

A. An update of the Fair value adjustment account

D. The amount of the unrealized holding gain or loss that has occurred since the end of the prior accounting period

Explanation:

The value of an equity investment that lacks significant influence is adjusted at the end of each accounting period against an unrealized gain/loss account.

When the equity investment is sold, the unrealized gain/loss account will become realized depending on the sales value. Before any final gain or loss is realized, an adjustment must be made to the investment's Fair value adjustment account.

E.g if the investment X's balance account was $510,000 and its fair market value was $550,000, we would first need to adjust the fair value:

Dr Fair value adjustment of investment X 40,000

    Cr Unrealized holding gain 40,000

6 0
3 years ago
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