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Question: A local law firm has eleven lawyers. One Lawyer has been sued for several million dollars as the results of a recent case. Because of what appears to be the lawyer's very poor judgment, one of the customers died. Although the lawyer was solely involved with the customer in question, the lawsuit names the entire law firm as a defendant. Originally, six of the lawyers formed the law firm as a general partnership. However, three years ago, the partners converted the business to a limited liability partnership based on the laws of the state in which they operate. Instruction: Read the articles online or any published information that is available on partners and partnership liability, based on the facts presented in this case, please present (in complete sentences instead of listing the key words) your opinion/comments on the possible liability the other ten partners in this law firm may have in connection with the case. In addition, please present, in your opinion, the factors which may be important in determining the exact liability (if any) of the other ten lawyers
Management estimates a useful life of five years and a residual value of $5,000. What is the adjusted balance in the Accumulated Depreciation account
Analyse the differences in the electronic documents that may be used in each system for input and output, especially identifying the form of recording
What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,300 helmets? What is the materials price variance and materials quantity?
What is the financial advantage (disadvantage) of accepting the special order from the wedding party? Should the company accept the special order
From the information provided by the account changes you should be able to re-create the transactions that affected Brenner-Jude's retained earnings during 2011.
Lanning Company sells 160,000 units at $45 per unit. Determine the contribution margin ratio, the unit contribution margin, and income from operations.
Expected manufacturing overhead PhP1,000,000. Calculate overhead allocation rates using each of the four possible allocation bases provided
The predetermined overhead rate for Zane Company is $5, comprised of a variable overhead rate of $3 and a fixed rate of $2. The amount of budgeted overhead
Sawaya Co., Ltd., Estimate how much of the $299,920 factory overhead cost at the high level of activity consists of maintenance cost.
compute the variable cost per unit and the fixed cost for the period. Calculate the break-even point in sales dollars. Should Jerry purchase this company
Calculate the variances for the year ended December 31,2011, identify the person/department to get additional information from regarding the variances and lastly suggest one plausible explanation for each variance.
The department actually completed 7,500 hours of production. Determine the budget for the department, assuming that it uses flexible budgeting
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