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Peter, Mary and Paul are planning on creating a new business to buy, restore, and sell classic cars. The three individuals have been added in a number of business deals dating back to the 1960s. Every individual has a net worth of at least 2 million dollars. Peter has located an old auto dealership to be the showroom for the classic cars. Paul has restored many classic cars so he has prepared the network for purchasing restorable cars. Mary is well-established promoter of new businesses and in-charge of evaluating the business plan, selecting the entity form, obtaining the external financing, and hiring the firm's accountant. She will also handle most of day-to-day management. Mary has narrowed the business entity option down to a partnership, C or S corporation, or limited liability company. You have talked with Mary about project at length in three different meetings. She needs your advice about selecting the appropriate business entity for the business. Organize a short list of the pros and cons about using each of the four business forms that you will use at your next meeting with Mary and be prepared to make a final recommendation for Mary that adds tax calculations.
Remember class, Organize a list of pros and cons do not mean just giving a definition of the three entities. Your information offered should be structured toward their prospective business. Please make sure your responsive include the required references and rules
Evaluate a master budget for the three-month period ending June 30. Include the given detailed budgets:
What are the estate tax consequences of these transactions
In this activity you will prepare one of the most use financial statements in business, the Income Statement. Arrange an answer to problem.
Determine the potential value or accounting treatment for such future development efforts.
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For every situation, show whether the first or second type of evidence is more reliable. Give a rationale for your choice.
An unfavorable labor rate variance can occur if workers with high hourly wage rates are assigned to work on products whose standards assume workers with low hourly wage rates.Throughput time is the amount of time required to process raw materials i..
what is Capital's after-tax WACC and what balance could appear in the investment in Holister account as of December 31, 2009?
Evaluate the total Gross estate and determine the total gross deductions?
Ranger Company produces men's ties. Budgeted and actual costs for March - Find the total variance from the flex
What is the most likely effect on the labor variances in the first month of this strike. the estimates of the variable and fixed components of repair cost would be
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