Michelle is an active participant in the rental condominium property she owns. During the year, the property generates a ($20,500) loss; however, Michelle has sufficient tax basis and at-risk amounts to absorb the loss. If Michelle has $126,000 of salary, $11,100 of long-term capital gains, $4,100 of dividends, and no additional sources of income or deductions, how much loss can Michelle deduct? A. $1,500.
B. $25,000.
C. None of the choices are correct.

Aztic inc., a manufacturer of sports goods, plans to expand its operations to various other countries. during market research, it avoids countries where the dominant population is mostly rural. in this case, aztic inc. is assessing the of the countries

Each month, business today publishes a news piece about an innovative product, service, or business. such soft news is generally written by a freelance business writer and is known as a

Vulcan flyovers offers scenic overflights of mount st. helens, the volcano in washington state that explosively erupted in 1982. data concerning the company’s operations in july appear below: vulcan flyovers operating data for the month ended july 31 actual results flexible budget planning budget flights (q) 56 56 54 revenue ($350.00q) $ 16,500 $ 19,600 $ 18,900 expenses: wages and salaries ($3,300 + $91.00q) 8,354 8,396 8,214 fuel ($31.00q) 1,904 1,736 1,674 airport fees ($870 + $35.00q) 2,730 2,830 2,760 aircraft depreciation ($11.00q) 616 616 594 office expenses ($240 + $1.00q) 464 296 294 total expense 14,068 13,874 13,536 net operating income $ 2,432 $ 5,726 $ 5,364 the company measures its activity in terms of flights. customers can buy individual tickets for overflights or hire an entire plane for an overflight at a discount. required: 1. prepare a flexible budget performance report for july that includes revenue and spending variances and activity variances.