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mr Goodwill [35]
3 years ago
6

Jenna began the year with a tax basis of $45,000 in her partnership interest. Her share of partnership debt consists of $6,000 o

f recourse debt, and $10,000 of nonrecourse debt at the beginning of the year, and $6,000 of recourse debt, and $13,000 of nonrecourse debt, at the end of the year. During the year, she was allocated $65,000 of partnership ordinary business loss. Jenna does not materially participate in this partnership, and she has $4,000 of passive income from other sources.A) How much of Jenna's loss is limited by her tax basis?B) How much of Jenna's loss is further limited by her at-risk amount?C) How much of Jenna's loss is further limited by the passive activity loss rules?
Business
1 answer:
agasfer [191]3 years ago
4 0

Answer:

a) Jenna's tax basis = $45,000 + ($13,000 - $10,000) = $48,000

loss allocation = $65,000

loss limited by her tax basis = $65,000 - $48,000 = $17,000

b)  Jenna's at risk loss = $48,000 - $13,000 = $35,000

c) Jenna's loss limited by passive activity = $35,000 - $4,000 = $31,000

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Nokia is a cell phone brand that offers digital cameras as part of its cell phone products. It is now in direct competition with
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Answer:

A. Envelopement

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3 years ago
Ayala Inc. has conducted the following analysis related to its product lines, using a traditional costing system (volume-based)
Valentin [98]

Solution :

a). Operating the income using traditional costing system

Products        Sales revenue($)           Traditional($)         Operating income($)

                             ( A )                                 ( B )                           ( A - B )

540X                   198,200                         54,440                       143,760

137Y                    158,700                         49,090                        109,610

249S                   83,190                            11,290                          71,900

b). Operating income using the activity-based costing system

Products        Sales revenue($)           Traditional($)       Operating income($)

                             ( A )                                 ( B )                           ( A - B )

540X                   198,200                         45,520                       152,680

137Y                    158,700                          39,290                        119,410

249S                   83,190                            30010                          53,180

5 0
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Answer: The answer is given below

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4 0
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