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
Nitella [24]
3 years ago
6

Carlos opens a dry cleaning store during the year. He invests $30,000 of his own money and borrows $60,000 from a local bank. He

uses $40,000 of the loan to buy a building and the remaining $20,000 for equipment. During the first year, the store has a loss of $24,000. How much of the loss can Carlos deduct if the loan from the bank is nonrecourse
Business
1 answer:
kvv77 [185]3 years ago
5 0

Answer:

$30,000

$6,000

Explanation:

Carlos risk = $30,000

Carlos risk of $30,000 is the amount of funds which he had invested in the course of his business which is why Carlos is not considered at-risk for the nonrecourse loan reason been that carlos is not found liable because the loan was not used in the business which makes him to have a risk of $30,000.

$24,000 loss that occured will reduces Carlos’ amount at-risk to $6,000

($30,000 - $24,000)

=$6,000

You might be interested in
If someone introduces himself using a formal introduction, you should _____.
stich3 [128]

Answer:

Follow his lead and address him formally

Explanation:

If someone addresses you formally, that is because that person expects the conversation to be formal, or because you both are in a formal enviroment, for example, a work meeting. For this reason, the best to do in such situation is to address the other person formally as well.

6 0
2 years ago
Workers in contributing to the common good is
Katarina [22]
A worker's success in contributing to the common good is determined by how well one does his or her job. One way is to pay tax contributions properly. Another way is to be proactive and open-minded with regards to work. Lastly, they must also know how to motivate others.
4 0
3 years ago
Cardinal Industries purchased a generator that cost $11,000. It has an estimated life of five years and a residual value of $1,0
atroni [7]

Answer:

Correct answer is letter D, $11,000 cost, five-year life and $1,000 salvage value

Explanation:

To compute depreciation expense of an asset using straight-line method of depreciation, the information we needed is 3,

1. cost of an asset

2. life of an asset (in year)

3. residual value (if available)

<em>* residual value of an asset is to be determined by the company, some asset don't have scrap value assigned.</em>

<em />

<em>FORMULA </em>

<em>The difference between the cost of an asset and the expected residual value over the number of years it is expected to be useful.</em>

<em>(cost of an asset - residual value ) / life of an asset</em>

6 0
3 years ago
A ________________ is linked to the organization’s hierarchy, with some shift of power to team; the leader has limited manageria
Dafna1 [17]

A team is linked to the organization's hierarchy,

with some shift of power to team; the leader has limited managerial power;

decision-making is consultative, democratic, or by consensus

8 0
3 years ago
An economic decision will affect all people, regardless of how they feel or believe
Serjik [45]
Wait is this a question? But yes, this is true.:-)
8 0
3 years ago
Read 2 more answers
Other questions:
  • You are Steve Jobs. Assess the organizational structure issues happening at Apple? Select one: a. A company that is already big
    14·1 answer
  • A sole proprietor is personally responsible for all of the businesses debts, and may be legally required to pay off those debts
    13·2 answers
  • Disc uses​ activity-based costing. Two of Disc​'s production activities are kitting ​(assembling the raw materials needed for ea
    5·1 answer
  • Because financial markets are ____, securities buyers and sellers do not have full access to information and cannot always break
    12·2 answers
  • Dyckman Dealers has an investment in Thomas Corporation bonds that Dyckman accounts for as a trading security. Thomas Corporatio
    8·1 answer
  • Perion Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direc
    12·1 answer
  • Novak Corp. has had 4 years of net income. Due to this success, the market price of its 300,000 shares of $5 par value common st
    12·1 answer
  • Aulman Inc. has a number of divisions including a Furniture Division and a Motel Division. The Motel Division owns and operates
    15·1 answer
  • What’s the bestselling movie soundtrack of all time?
    9·1 answer
  • When a company allows a customer to opt in and/or opt out with respect to the data it collects, it is implementing the _________
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!