Reference no: EM13875009
Business Organizations – Georgio’s Fashions is a business established in Little Rock, Arkansas. In each of the following situations, determine whether Georgio’s is a sole proprietorship, a general partnership, a limited partnership, a limited liability company, or a corporation.
a. Georgio’s is owned by four people. When Georgio’s defaults on a payment to a supplier, each of the four owners is personally liable for payment of the debt.
b. Georgio’s raises $200,000 through the sale of shares of its stock.
c. Georgio’s is owned by one person who is personally liable for all of the business’s debts.
d. At tax time, Georgio’s files a tax return with the IRS and pays taxes on the firm’s net profits, and Georgio’s shareholders (owners) each pay personal income tax on dividends received from Georgio’s.
e. Georgio’s is owned by three people. Two of Georgio’s owners are not allowed to participate in the firm’s management, while the third owner manages the business and assumes liability for all of Georgio’s debts.
f. Georgio’s is owned by two people and was created informally, by an unwritten agreement between these two owners.
g. At tax time, Georgio’s can choose whether to be taxed as a corporation or as a partnership.
h. Georgio’s is owned by one person who is NOT personally liable for the debts of the business.
Georgio’s is either a _______________________ or a _________________________
|
About the retirement supplement
: My cousin Robert wishes to have $10,000 per year as a retirement supplement for 20 years (from age 65-85). He is now 40 years old. How much must he save each year for the next 25 years if he assumes that his savings will earn 12% annually?
|
|
Prepare a draft on law enforcement of mental illness
: Prepare a draft on Law Enforcement De-Escalation of Mental Illness
|
|
Exactly enough money to fund exciting new project
: On-The-Bubble Corporation, a US company, plans to issue $100,000,000 in par value of new 10-year maturity, 0% coupon rate, senior unsecured bonds. The issue would be priced at 68-00 (68% of par value) and the $68,000,000 proceeds from this issue will..
|
|
How jury nullification is used in relation to diversity
: An explanation of the process and cases that have helped to control the systemic discrimination of the courts in this process. A discussion of how jury nullification is used in relation to diversity
|
|
About the business organizations
: Business Organizations – Georgio’s Fashions is a business established in Little Rock, Arkansas. In each of the following situations, determine whether Georgio’s is a sole proprietorship, a general partnership, a limited partnership, a limited liabili..
|
|
Criminal justice paper - fingerprinting
: Do a research paper about criminal technologies such as fingerprinting, the rights of privacy, criminal justice and constitutional protection
|
|
Bad debts expense is estimated
: The following 2010 information is available concerning the Drake Company, which adjusts and closes its accounts every December 31:
|
|
What was the gross profit margin of the firm
: After analyzing last year's data, you found that Johnson had gross profit of $250,000 and net sales of $1,500,000. What was the gross profit margin, and by what percentage did the firm achieve its goal?
|
|
All assets are expected to grow proportionately with sales
: An ambitious company, Kentag wants to be a fortune 500 company within 20 years. It expects its sales to increase 20% next year from its current level of $4.7 million. Kentag has current assets of $660,000, net fixed assets of $1.5 million, and curren..
|