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Kelly Herron has agreed to invest $200,000 into an LLC with Michelle Moss and Dan Kim. Moss and Kim will not invest any money, but will provide effort and expertise to the LLC. Moss and Kim have agreed that the net income of the LLC should be divided so that Herron is to receive a 10% preferred return on her capital investment prior to any remaining income being divided equally among the partners. In addition, Moss and Kim have suggested that the operating agreement be written so that all matters are settled by majority vote, with each partner having a one-third voting interest in the LLC.
If you were providing Kelly Herron counsel, what might you suggest in forming the final agreement?
HomeStyle Soup Co. uses a process cost system to record the costs of processing soup, which requires the cooking and filling processes. Materials are entered from the cooking process at the beginning of the filling process.
She takes additional first year depreciation. Evaluate the cost recovery deduction with respect to the asset for 2013.
On February 2007, Reflection Corporation purchased a parcel of land as a factory site for $50,000 - Evaluate reflection should record the cost of the land and new building
How could the selling price of the bonds be determined
Determine Mary's and Larrys bases in these assets
Evaluate the price would Crede charge to maximize revenues? and What price should Crede charge to maximize profits?
Evaluate what is the ROI for the Shellfish Division, before and after the proposed purchase of Shrimp Inc and find what is the residual income for the Shellfish Division, before and after the purchase of Shrimp Inc.?
Evaluate all materials and labor variances in a spreadsheet by using a program like Excel. Be sure to add price, quantity, wage rate, and labor efficiency variances.
Perform the ACL test and prepare a report with your conclusions
Evaluate managements discussion and analysis
The materials price variance was $80,000 favorable. Evaluate the standard price per pound?
Evaluate the cost per cost driver for each of the three cost centers. Use the results from part 1 to allocate costs from each of the three cost centers to both the general surgery and the orthopedic surgery units.
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