Molly Grey (single) acquired a 30 percent limited partnership interest in Beau Geste LLP several years ago for $56,000. At the beginning of year 1, Molly has tax basis and an at-risk amount of $20,000. In year 1, Beau Geste incurs a loss of $187,500 and does not make any distributions to the partners. -In year 1, Molly's AGI (excluding any income or loss from Beau Geste) is $67,800. This includes $13,800 of passive income from other passive activities.

-In year 2, Beau Geste earns income of $38,400. In addition, Molly contributes an additional $31,380 to Beau Geste during year 2. Molly's AGI in year 2 is $71,700 (excluding any income or loss from Beau Geste). This amount includes $10,160 in income from her other passive investments.

Based on the above information, complete the following tables: (Leave no answers blank. Enter zero if applicable.) What are the cumulative total passive suspended losses at the end of year 2?

Ds unlimited has the following transactions during august. august 6 purchases 58 handheld game devices on account from gamegirl, inc., for $140 each, terms 2/10, n/60. august 7 pays $340 to sure shipping for freight charges associated with the august 6 purchase. august 10 returns to gamegirl three game devices that were defective. august 14 pays the full amount due to gamegirl. august 23 sells 38 game devices purchased on august 6 for $160 each to customers on account. the total cost of the 38 game devices sold is $5,448.51. required: record the transactions of ds unlimited, assuming the company uses a perpetual inventory system. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. round your answers to 2 decimal places.)

Bridgeport company began operations at the beginning of 2018. the following information pertains to this company. 1. pretax financial income for 2018 is $115,000. 2. the tax rate enacted for 2018 and future years is 40%. 3. differences between the 2018 income statement and tax return are listed below: (a) warranty expense accrued for financial reporting purposes amounts to $7,500. warranty deductions per the tax return amount to $2,200. (b) gross profit on construction contracts using the percentage-of-completion method per books amounts to $94,700. gross profit on construction contracts for tax purposes amounts to $67,100. (c) depreciation of property, plant, and equipment for financial reporting purposes amounts to $61,800. depreciation of these assets amounts to $75,700 for the tax return. (d) a $3,600 fine paid for violation of pollution laws was deducted in computing pretax financial income. (e) interest revenue recognized on an investment in tax-exempt municipal bonds amounts to $1,500. 4. taxable income is expected for the next few years. (assume (a) is short-term in nature; assume (b) and (c) are long-term in nature.) (a) prepare the reconciliation schedule for 2017 and future years. (b) prepare the journal entry to record income tax expense for 2017. (c) prepare the income tax expense section of the income statement beginning with “income before income taxes.” (d) determine how the deferred taxes will appear on the balance sheet at the end of 2017.

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