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Dividing LLC Income
Ben Bowman and Savannah Mapes formed a limited liability company with an operating agreement that provided a salary allowance of $89,000 and $71,000 to each member, respectively. In addition, the operating agreement specified an income-sharing ratio of 3:2. The two members withdrew amounts equal to their salary allowances.
a. Determine the division of $226,000 net income for the year.
At the end of the year, Multinational will have overfunded their Givonian pensions by about $100 million US dollars. This amount is material with respect to Multinational’s financial statements. How should this overfunding be reflected in Multination..
A company had net income of $450,000 in 2009 and $620,000 in 2010. The company had average total assets of $2,500,000 in 2009 and $3,000,000 in 2010. Calculate the return on total assets for 2009 and 2010. Comment on the results.
1.nbsprecognition of concepts. jim armstrong operates a small company that books enter tainers for theaters parties
merchandise accounting - trail balanceat the beginning of the current season on april 1 the ledger of four oaks pro
Outline why depreciation is required – basing your discussion on any relevant accounting standards; and any relevant definitions, concepts and assumptions from the accounting framework.
Calculate the future value of an annuity stream and calculate the expected rate of return for each stock separately.
WebHelper Inc. acquired 100% of the outstanding stock of Silicon Chips Corporation (SCC) for $45 million, of which $15 million was allocated to goodwill. At the end of the current fiscal year, an impairment test revealed the following: fair value of ..
Purpose a vertical analysis of the income statement showing appropriate percentages for each item listed above. and what additional information would you need to determine whether these percentages are good or bad?
Identify some budgeting issues including format, and budget monitoring and What must happen in order for the company to succeed?
For each of the following situations, identify the correct factor to use from Table 1 or Table 2 in Appendix C. Also, compute the appropriate present value.
multiple choice questions on basic accounting principle.1.nbspthe income summary account is also called a.nbspthe
Calculate the firms break-even point in units of production and predict the firm's profitability if volume is 1,200 units.
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