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Zarrin [17]
2 years ago
9

race acquired an activity four years ago. The loss from the activity is $50,000 in the current year (at-risk basis of $40,000 as

of the beginning of the year). Without considering the loss from the activity, she has gross income of $140,000. If the activity is a convenience store and Grace is a material participant, what is the effect of the activity on her taxable income? Grace may deduct $ of the $50,000 loss due to the rules. $ is suspended. The available loss subject to the passive activity loss rules because . As a result, Grace's income for tax purposes is $ .
Business
2 answers:
Yakvenalex [24]2 years ago
4 0

Answer: 12

Explanation:

42

marishachu [46]2 years ago
4 0

Answer:

Grace taxable income during the year = $100,000

Given:

Current year loss = $50,000

The beginning of the year = $40000(At risk basis)

Gross income during the year = $140,000

Grace taxable income during the year = ?

Computation of Grace taxable income during the year :

Grace taxable income during the year = Gross income during the year - Deductible beginning loss during the year

Grace taxable income during the year = $140,000 - $40,000

Grace taxable income during the year = $100,000

Therefore, her taxable income reduced from $140,000 to $100,000

Explanation:

Can i get brainliest plz

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People who use white hat SEO tactics try to trick the search engine into thinking a website has high-quality content, when in fa
kiruha [24]

Answer:

False

Explanation:

White hat SEO is also called simply SEO and it is the practice of improving content of a website using approved Google search engine optimisation techniques.

Search engine optimisation is the process by which content of a website are made to be of high quality. Search engines rank web content based on how relevant they are to the enquiry made.

The more relevant the content the higher it ranks on search engines.

However black hat SEO techniques are used to fool search engines into thinking the content is of high quality. Practices such as keyword stuffing is a black hat technique which is penalised by Google.

3 0
3 years ago
Cash equivalents:______.
Rina8888 [55]

Answer:

C. Are readily converted to a known cash amount.

Explanation:

Highly liquid short term assets are those which are ready available for conversion into cash. These are also called Liquid assets. Highly liquid investment are made for short term investment interest revenues.

6 0
3 years ago
In Lean/JIT systems the burden of ensuring quality of production inputs from vendors shifts from the _____________ to the ______
irina [24]

Answer:

Buyer/seller

Explanation:

In the case of lean system it focused on the customer side while on the other hand the JIT i.e. Just in time focused on the manufacturing process i.e. efficiency

So in the case of lean or JIT system the burden for ensuring the production quality from vendor shifts is from the buyer to the seller

Therefore the above represents the answer

6 0
2 years ago
The Bombay Company, Inc., sold a line of home furnishings that included furniture, wall decor, and decorative accessories. Bomba
tatyana61 [14]

The guidance of the income assertion for the 12 months ended December 31 is $22,000.

income $94,000

value of products bought

Beginning end items inventory $20,000

add: a fee of goods synthetic $ forty-one,000

a fee of goods available for sale $ sixty-one,000

less: ending end goods inventory -$17,000

price of goods sold $ forty-four,000

Gross margin $50,000

much less: running expenses

popular and advertising expenses $15,000

general running fees $28,000

working earnings of $22,000

extra approximately the earnings statement right.

Monetary statement assertions are an employer's reputable announcement that the figures the agency is reporting are accurate. Assertions are made to attest to the authenticity of facts on balance sheets, profits statements, and cash flow statements.

Learn more about income assertion here:

brainly.com/question/14727142

#SPJ4

8 0
1 year ago
Carver Lumber sells lumber and general building supplies to building contractors in a medium-sized town in Montana. Data regardi
german

Answer:

$55,300

Explanation:

Calculation to determine what The net income for December would be:

NET INCOME FOR DECEMBER

Revenue $327,000

Less cost of goods sold ($228,900)

(70%*$327,000)

Gross profit $98,100

($327,000-$228,900)

Less Depreciation ($17,400)

Less Operating expenses ($25,400)

Net Income $55,300

Therefore The net income for December would be:55,300

3 0
2 years ago
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