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Discuss the given forms of the organizations

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Question: 1. Denzel and Shantell form a partnership by contributing $70,000 and $35,000, respectively. They agree to an interest allowance equal to 10% of each partner's capital balance at the beginning of the year, with the remaining income shared equally. Allocate first-year income of $40,000 to each partner.

2. Which of the following forms of organization do not provide limited liability to all of its owners?

(a) S corporation,

(b) limited liability company,

(c) limited partnership.

Reference no: EM131534242

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