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In 2023, Wilmah Lansing invested in the Eagle Limited Partnership...

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Accounting

In 2023, Wilmah Lansing invested in the
Eagle 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 Eagle as
of January 1,2024, if the partnership broke
even (no income or loss)?
Refer to the facts in Problem 33 and assume
that Eagle allocated to Wilmah net income
of $10,000 from operations in 2023. What
amount does Wilmah have at risk as of January
1,2024? Would your answer be different if she
also withdrew $5,000? Explain.
Refer to the facts in Problem 33 and assume
instead that Eagle allocated to her a loss
of $60,000 in 2023. What amount does
Wilmah have at risk as of January 1,2024?
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