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In 2019, Wilmah Lansing invested in the Triple-K Limited Partnership by paying $15,000 cash and signing a $40,000 nonrecourse note. She also pledged $25,000
In 2019, Wilmah Lansing invested in the Triple-K Limited Partnership by paying $15,000 cash and signing a $40,000 nonrecourse note. She also pledged $25,000 worth of securities for a loan obtained by the partnership. Her basis in the securities was $10,000. What amount does Wilmah have at risk in Triple-K as of January 1, 2020, if the partnership broke even (no income or loss)?
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Financial Accounting with IFRS Fold Out Primer
Authors: John Wild
5th edition
978-0077408770, 77408772, 978-0077413804
