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1.What are the main advantages of (a) proprietorships (b) partnerships and (c) limited liability companies?
2.What are the disadvantages of partnership over a limited liability company form of organization for a profit making business?
3.Emilio Alvarez and Gracila Zavala joined together to form a partnership. It is possible for them to lose a greater amount than the amount of their investment in the partnership. Explain?
4.What are the major features of partnnership agreement for a partnership or an operating agreement for a limited liability company.
5.In the absense of the agreement, how will the net income be distributed between two partners in the firm of A and W Envirommental Engineering?
On August 5, 2011, Tanner sold the house for $570,000. Tanner paid a sales commission of $30,000 and legal fees of $800 connected with the sale of the house. What is Tanner's recognized gain on the sale of the house?
Activity-based budgeting includes all the following steps EXCEPT:
At the date of issuance, the market value of the bonds, without the stock warrants, was quoted at 96. The market value of each detachable warrant was quoted at $40. What amount, if any, of the proceeds from the issuance should be accounted for as ..
If a CPA is engaged by an attorney to assist in the defense of a criminal tax fraud case involving the attorney's client, information obtained by the CPA from the client after being engaged:
Compute equivalent units of production for materials and for conversion costs and determine the unit costs of production and show the assignment of costs to units transferred out and in process.
Prepare the entries on both companies' books assuming that the exchange had commercial substance. Prepare the entries on both companies' books assuming that the exchange lacked commercial substance.
MBA 640 Exam 1, Spring 1, 2014, Determine the net income for the month of December and for the month of June.
With the globalization of corporate business and cross border security listings, the need for a common set of accounting standards to be applied worldwide emerged to the surface. Both the IASB and the FASB have taken steps towards this goal.
A share of common stock just paid a dividend of $3.25 per share. The expected long-run growth rate for this stock is 18%. If investors require a rate of return of 24%, what should the price of the stock be?
from the balance sheetcash............................................................. 30000
zenon chemical inc. processes pine rosin into three products turpentine paint thinner and spot remover. during may the
Aspen Co. expects to maintain the same inventories at the end of 2008 as at the beginnign of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various depart..
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