Carmen purchased a business for $150,000 by investing $40,000 of her own funds and borrowing $110,000 from local national bank. carmen signed the note payable as a personal guarantor. in the first year of operation, the business had an operating loss of $120,000. the business incurred an operating loss of $45,000 in the second year and had operating income of $25,000 in the third year. what is the maximum carryforward loss deductible against the third year’s income? assume that carmen materially participates in the business.
a. $20,000
b. $15,000
c. $30,000
d. $45,000
e. $120,000

Archangel manufacturing calculated a predetermined overhead allocation rate at the beginning of the year based on a percentage of direct labor costs. the production details for the year are given below. calculate the manufacturing overhead allocation rate for the year based on the above data. (round your final answer to two decimal places.) a) 42.42% b) 257.14% c) 235.71% d) 1, 206.90% archangel production details.

In risk management, what does risk control include? a. risk identification b. risk analysis c. risk prioritization d. risk management planning e. risk elimination need this answer now : (

Frost corporation incurred the following transactions during its first year of operations. (assume all transactions involve cash.) 1) acquired $1,900 of capital from the owners. 2) purchased $435 of direct raw materials. 3) used $290 of these direct raw materials in the production process. 4) paid production workers $490 cash. 5) paid $290 for manufacturing overhead (applied and actual overhead are the same). 6) started and completed 250 units of inventory. 7) sold 140 units at a price of $6 each. 8) paid $130 for selling and administrative expenses. the amount of raw material inventory on the balance sheet at the end of the accounting period would be: