Question
Dale invests $15,000 cash in StayCalm Partnership and becomes a 10% general partner. StayCalm buys and sells apartment buildings and commercial buildings. The partnership has
Dale invests $15,000 cash in StayCalm Partnership and becomes a 10% general partner. StayCalm buys and sells apartment buildings and commercial buildings. The partnership has $70,000 of recourse debt and $120,000 of qualified non-recourse debt. What is Dales at-risk amount in StayCalm Partnership?
| a. | $0 | |
| b. | $15,000 | |
| c. | $22,000 | |
| d. | $34,000 |
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Survey Of Accounting
Authors: James D. Stice, W. Steve Albrecht, Earl Kay Stice, K. Fred Skousen
1st Edition
0538846178, 978-0538846172
