Answer:
Ray = $200,000
Chuck = $250,000
Explanation:
<u>Determine how much trade or business loss can each deduct on their tax returns </u>
Total loss of Ray = $16000 + $250000 = $266000
since Ray suffered a loss of $16000 from his sole proprietorship and a loss of $250,000 . the total loss suffered from the partnership will not be deductible because it will lead to excessive business loss for the partnership
For RAY : the partnership loss can be calculated as : $250000 - $16000 =$234000
chuck can deduct $250000 loss on tax returns
this is because the threshold is not exceeded as no other loss is created
Answer:
<em>Home-rule charter</em>
Explanation:
<em>According to the given scenario that is been presented in the question, the state legislature passed the </em>home-rule charter.
Because home-rule charter is a type of small constitution. In this a municipality plays a great role, the municipality is given right to pass any kind of rule, but the rule which is been passed should not be against the state constitution.
You could be a coach of some sort or you could try to be a profesinal athlete or you could be a triner
When using the specific identification inventory method, the cost of goods sold equals the "revenues from the goods sold."
This is because the specific identification inventory method calculates each unit of n item in an inventory from when it enters the inventory until it leaves it.
The specific identification inventory method is used by many industries such as automobiles, furniture, jewelry, etc.
This method is mostly used when each unit of items can be specified easily, either through serial number, stamped receipt date, or other means of identification.
Hence, in this case, it is concluded that the specific identification inventory method is a good method to use in certain industries.
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