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The third case has two parts addressing the use of the partnership form of doing business for tax purposes.
Required
Part One:
What are some major differences between corporations and partnership from a tax and nontax perspective? Don't forget to comment on legal liabilities.
Part Two:
Limited Liability Companies (LLCs) are very popular for small businesses today. Discuss tax and nontax reasons for their popularity. Also, make a comparison between LLCs and S corporations.
Assignment Expectations
It is important to answer the questions as posed. The discussion should be 5-7 pages. Support your discussion with computations as requested and don't forget references in APA format.
Classify each of the following business activities as an operating, an investing, or a financing activity.
Carin, a widow, elected to recieve the proceeds of a $100,000 life insurance policy on the life of her deceased husband in 10 installments of $15,000 each. Her husband had prepaid premiums of $75,000 on the policy. In the first year, Carin collect..
Research on the effects of capital rationing is relatively scarce. Different streams of literature provide different results about the effects of competition.
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In January 2011, Keona Co. pays $2,800,000 for a tract of land with two buildings on it. It plans to demolish Building 1 and build a new store in its place.
Bogey Co. recorded operating data for its Cheap division for the year. Bogey requires its return to be 10%. What is the goal of residual income?
c. The current assets section of the balance sheet contains items such as cash accounts receivable and prepaid expenses and the current liabilities section contains items such as accounts payable notes payable and short term debt
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