Amount of the members capital contribution

Assignment Help Other Subject
Reference no: EM132403866

Jack, Teddy, Braden, and Evan form a limited liability company called Millennium Foods, LLC, to operate an organic foods grocery store in Portland, OR. Jack and Teddy each contribute $25,000 capital, Braden contributes $50,000, and Evan contributes $100,000. The LLC's articles of organization are silent as to how profits and losses of the LLC are to be divided. The organic foods grocery store is an immediate success, and Millennium Foods, LLC, makes $200,000 profit the first year. Braden and Evan want the profits distributed based on the amount of the members' capital contribution. Jack and Teddy think the profits should be distributed equally. Who is correct?

Reference no: EM132403866

Questions Cloud

Social networking is my system technology : What security concerns are inherent to using this system/technology, and how should these be mitigated?
What is involved in each step of the process : In 175 words or more discuss the steps that an organization takes in order to manage information security risks and build a risk matrix.
Commencement of the co-ownership : Assume 50/50 ownership of property of Tim and Chris. Tim is the co-owner in occupation, having ousted Chris from the commencement of the co-ownership
Briefly describe each of the identified risks-threats : Briefly describe each of the identified risks/threats. Analyze and evaluate the security controls that mitigate each of the risks/threats identified.
Amount of the members capital contribution : Braden and Evan want the profits distributed based on the amount of the members' capital contribution. Jack and Teddy think the profits should be distributed
Analytics-interfaces and cloud technology : Analytics, Interfaces, and Cloud Technology. This assignment consists of two (2) sections: a design document and a revised Gantt chart or project plan.
Causing injury to customers or other non-employees : The entrepreneur asks your advice on the best form or forms of business to protect her from personal liability in the event of an accident causing injury
Despite good reasons for other structures : Let's assume that John decides that, despite good reasons for other structures, he will incorporate the business and operate the bistro
Assessment Task - Educational Change Case Study Report : Assessment Task - Educational Change Case Study Report. Stage 1: Critical Assessment of the Case in Context. Describe issue that you feel needs to be addressed

Reviews

Write a Review

Other Subject Questions & Answers

  Cross-cultural opportunities and conflicts in canada

Short Paper on Cross-cultural Opportunities and Conflicts in Canada.

  Sociology theory questions

Sociology are very fundamental in nature. Role strain and role constraint speak about the duties and responsibilities of the roles of people in society or in a group. A short theory about Darwin and Moths is also answered.

  A book review on unfaithful angels

This review will help the reader understand the social work profession through different concepts giving the glimpse of why the social work profession might have drifted away from its original purpose of serving the poor.

  Disorder paper: schizophrenia

Schizophrenia does not really have just one single cause. It is a possibility that this disorder could be inherited but not all doctors are sure.

  Individual assignment: two models handout and rubric

Individual Assignment : Two Models Handout and Rubric,    This paper will allow you to understand and evaluate two vastly different organizational models and to effectively communicate their differences.

  Developing strategic intent for toyota

The following report includes the description about the organization, its strategies, industry analysis in which it operates and its position in the industry.

  Gasoline powered passenger vehicles

In this study, we examine how gasoline price volatility and income of the consumers impacts consumer's demand for gasoline.

  An aspect of poverty in canada

Economics thesis undergrad 4th year paper to write. it should be about 22 pages in length, literature review, economic analysis and then data or cost benefit analysis.

  Ngn customer satisfaction qos indicator for 3g services

The paper aims to highlight the global trends in countries and regions where 3G has already been introduced and propose an implementation plan to the telecom operators of developing countries.

  Prepare a power point presentation

Prepare the power point presentation for the case: Santa Fe Independent School District

  Information literacy is important in this environment

Information literacy is critically important in this contemporary environment

  Associative property of multiplication

Write a definition for associative property of multiplication.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd