The answer should be B. Hope this helps!<span>
.</span>
B. They'll know exactly what you want.
HOPE IT HELPS UH!!☺️☺️
Answer:
a. Revenues, expenses. and dividends - Temporary accounts
b. List of permanent accounts and their balances - Post-closing trial balance
c. Transfer of temporary balances to retained earnings - Closing entries
d. List of permanent and temporary accounts and their balances - Adjusted trial balance
e. Assets, liabilities, and stockholders' equity - Permanent accounts
Answer:
$120,000
Explanation:
Calculation to determine How much of the passive loss is deductible
Using this formula
Deductible passive loss=Passive loss-Active income
Let plug in the formula
Deductible passive loss=$240,000-$120,000
Deductible passive loss=$120,000
Therefore How much of the passive loss is deductible is $120,000