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Gala2k [10]
3 years ago
12

Timothy Gates and Prada Singh decide to form a new company, TGPS LLC (a multimember LLC that will report its operations as a par

tnership). Timothy is married, and Prada is single. Each contributes $400,000 of capital to begin the business, and both materially participate in the business. In 2018, TGPS reports a net loss of $580,000.
What are the implications of this loss for Timothy and Prada?


Timothy has an excess business loss of $ 0. He may use $ 290,000 of his share of the $580,000 LLC business loss to offset ____________.

Prada has an excess business loss of $___________ . She may use $_________ of her share of the $580,000 LLC business loss to offset ____________.

Any excess business loss is treated as part of the ____________.
Business
1 answer:
Sliva [168]3 years ago
8 0

Answer:

Timothy has an excess business loss of $ 0. He may use $ 290,000 of his share of the $580,000 LLC business loss to offset non-business income .

Prada has an excess business loss of $40,000. She may use $250,000  of her share of the $580,000 LLC business loss to offset non-business income .

Any excess business loss is treated as part of the treated as part of the taxpayer's net operating loss (NOL) carry-forward.

Explanation:

1. Nonincome loss is claimed when there is no income and therefore no tax will be deducted. The is conditional on the provision of the details of income on which non-income loss is claimed.

2. Taxpayer's net operating loss (NOL) carry-forward is relevant here because it is often used to offset the tax payments in other tax period through the tax authority when allowable deductions is higher than taxable income.

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s344n2d4d5 [400]

The type of expenditure gap that's illustrated in Kittyville's economy is a recessionary expenditure.

<h3>What is expenditure gap?</h3>

It should be noted that an expenditure gap is when the demand for goods and services is more than the production.

In order to correct the gap, the economy hired the economist who suggested that there should be an increase in government spending and decrease in taxation.

Also, the change in government spending will be:

= Change in income b× (1 - MPC)

= $200 × (1 - 0.9)

= $20 billion.

Learn more about expenditure on:

brainly.com/question/935872

6 0
2 years ago
Hunt Advertising is collaborating on an initiative with the Odessa Arts Council, a nonprofit organization, by providing public-r
natita [175]

Incomplete question. The options:

a.  green marketing

b.  effect-related marketing

c.  cause-related marketing

d. relationship marketing

Answer:

<u>c.  cause-related marketing</u>

Explanation:

Note, a marketing effort that is centered primarily on making an impact or a said cause; usually, it involves a mutually benefiting agreement, in which a corporation would collaborate with a non-profit such that

  1. the corporation benefits (maybe in terms of sales), and
  2. the non-profit benefits in terms of fulfilling a cause.

The idea is that consumers would be drawn if they see that when they pay for a particular service or product, they will be contributing to a good cause.

6 0
3 years ago
The financial statements of Vaughn Manufacturing Company report net sales of $643100 and accounts receivable of $92000 and $2600
Sloan [31]

Answer:

The correct answer is 10.9 times.

Explanation:

According to the scenario, computation of the given data are as follow:-

Average account receivable = (Opening account receivable + Closing accounts receivable) ÷ 2

= ($92,000 + $26,000) ÷ 2

= $118,000 ÷ 2

= $59,000

We can calculate the account receivable turnover by using following formula :-

Accounts receivable turnover = Net sales ÷ Average Account receivable

= $643,100 ÷ $59,000

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3 0
3 years ago
*The best answer will receive brainliest, I will friend you, and I will like all of the questions you've asked or answered.
Anastasy [175]

Answer:

The challenges my business would face would be that we would have trouble communicating and producing products. We use the internet so much every day and it is essential in emailing and other methods of communication. We have to communicate with customers, contractors and installers among many others. We also need the internet for sending orders and order designs to the machines that do the cut-outs needed for the products. Production time would slow down dramatically if we were to try to cut out the products on our own or if we were to have to input the designs manually. Communication between different areas would take much more time because we would have to make landline phone calls to them instead of sending out emails. Our drawing staff, the people who create the designs would also have difficulties working. This is because we draw using an online webspace so that it can be easily looked over then transferred to the machines. Drawers would have to create by hand and then walk the design over to the other areas to be produced. Those are some challenged that our company would face if we had to work without power for an entire day.

Explanation:

7 0
3 years ago
Hometown Appliance has been having issues with salesmen who are giving customers incorrect pricing or information or creating ad
AVprozaik [17]

Answer:

start at the top of the command structure

Explanation:

Based on the scenario being described it can be said that the best solution to this would most likely be to start at the top of the command structure. This would allow you to go down the chain of command in order to find and stop the communication problem at the source. Which in doing so you will fix the problem completely, since the rest of the employees will begin to receive the correct information regarding the products.

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