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
lutik1710 [3]
3 years ago
13

Maria, who owns a 50% interest in a restaurant, has been a material participant in the restaurant activity for the last 20 years

. She retired from the restaurant at the end of last year and will not participate in the restaurant activity in the future. However, she continues to be a material participant in a retail store in which she is a 50% partner. The restaurant operations produce a loss for the current year, and Maria's share of the loss is $80,000. Her share of the income from the retail store is $150,000. She does not own interests in any other activities. a.Maria can offset the $80,000 loss against the $150,000 of income from the retail store. b.Maria will not be able to deduct any losses from the restaurant until she has been retired for at least three years. c.Assuming Maria continues to hold the interest in the restaurant, she will always treat the losses as active. d.Maria cannot deduct the $80,000 loss from the restaurant because she is not a material participant. e.None of these choices applies here.
Business
1 answer:
trapecia [35]3 years ago
3 0

Answer:

a.Maria can offset the $80,000 loss against the $150,000 of income from the retail store.

Explanation:

Maria has been in restaurant firm, for more than 5 years until the current year. So, she is an active participant. Hence, her active loss in her active activity - restaurant loss 80000 can be offset against $150,000 income  from the retail store.

You might be interested in
Kray Inc., which produces a single product, has provided the following data for its most recent month of operations: Number of u
Allushta [10]

Answer:

The variable costing unit product cost was <u>$69.</u>

Explanation:

Variable Product Costing is a situation whereby only the variable costs of production is taking into account to estimating the cost per unit of a product. This implies that none of the fixed cost will be included in the cost of the product.

Based on the explanation above, the variable costing unit product cost to produce a single product by Kray Inc. can be calculated as follows:

Kray Inc.

Calculation of Variable Costing Unit Product Cost

<u>Particulars                                                          Amount ($)     </u>

Direct materials                                                        40

Direct labor                                                               19

Variable manufacturing overhead                           8

Variable selling and administrative expense     <u>     2      </u>

Variable cost per unit                                          <u>     69     </u>

Therefore, the variable costing unit product cost was <u>$69.</u>

5 0
3 years ago
Give me 3 facts about traditional economies​
Gala2k [10]

Answer:

customs, history, and time-honored beliefs

Explanation:

A traditional economy is a system that relies on customs, history, and time-honored beliefs. Tradition guides economic decisions such as production and distribution. Societies with traditional economies depend on agriculture, fishing, hunting, gathering, or some combination of them. They use barter instead of money.

8 0
2 years ago
Read 2 more answers
Ruth runs a bread store. Her store's supply is highly elastic. What will Ruth do when the price of bread falls?
I am Lyosha [343]

Answer:

D

Explanation:

If there is more bread for a low price more people will come.

I did this before.

P.S.S Please press the crown if you will.

5 0
2 years ago
Corporation sold laser pointers for $ 20 each in 2017. Its budgeted selling price was $ 24 per unit. Other information related t
Nonamiya [84]

Solution

                                     Flexible           Actual          Budgeted

Unit sold                      27,800 units   27,800 units     28,100 units

                                       $                      $                           $

Sales price                  $ 24                  $ 20                   $ 24

                                 ----------------------------------------------------------

Total Revenue         667,200          556,000           674,400

Variable costs           55,600             112,000            56,200

                                                                                                                                                                                                          ($2 ×28,100)

                                 ------------------------------------------------------------

Contribution margin  611,600             444.000            618,200

Fixed costs                 52,000               54,000             52,000

                                    ---------------------------------------------------------- Operating Income     559,600         390,000           566,200

                                    ----------------------------------------------------------

Total cost                   107,600          1.66,000              108,200

cost per unit

(Total cost ÷ total units)   3.87                5.97                     3.85

5 0
3 years ago
Suppose a firm doubles its inputs (therefore doubling its total costs as well). If this firm is experiencing diseconomies of sca
inn [45]

Answer:

<h2>Under diseconomies of scale,firms experience decreasing returns to scale.Hence,the answer would be option B. or output will increase but less than double.</h2>

Explanation:

  • Diseconomies of scale is characterized as a situation in production where any firm experiences increase in the average cost of production as the output or production level expands.
  • Diseconomies of scale can occur when the productive resources of the factors/inputs of production looses their productive efficiency in the production process and is not able to generate proportionate or higher production level or output.
  • As a result,the output or production level obtained by employing a certain level of factor inputs or productive resources is usually less than the amount or proportion of those factor inputs or resources.
  • In other words,due to lower productive capacity or efficiency the productive resources or factors inputs are not able to manufacture or generate proportionate or higher levels of output and hence,the firms end up investing more on these resources or inputs but do not obtain proportionately expected output level.
5 0
3 years ago
Other questions:
  • An economy initially has 200 units of physical capital per worker. Each year, it increases the amount of physical capital by 10%
    11·1 answer
  • Sales-Related Transactions, Including the Use of Credit Cards Journalize the entries for the following transactions: (If an amou
    12·1 answer
  • Which of the following scenarios might indicate that you have been a victim of identity theft
    9·2 answers
  • Mel operates a video game store. His records indicate that he had sales of $78,000. Customers returned $1,500 worth of video gam
    6·1 answer
  • At what point does entertainment end and marketing begin? Why did you draw the line there?
    5·1 answer
  • A nurse manager is preparing to talk to her staff about quality improvement at a staff meeting. Which statement below is a corre
    5·2 answers
  • Which of the following generate the type of externality previously described? Check all that apply. The city where you live has
    6·1 answer
  • g On the first day of its fiscal year, Chin Company issued $10,000,000 of five-year, 7% bonds to finance its operations of produ
    10·1 answer
  • At the beginning of 2021, Terra Lumber Company purchased a timber tract from Boise Cantor for $3,510,000. After the timber is cl
    7·1 answer
  • you are appointed to head a special project team with a two-week deadline. you need to be efficient and timely. which leadership
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!