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Question 1: Why do most states and the ULLCA require that the name of a business that operates as an LLC include the initials "LLC" in some form or the wording "Limited Liability Company"?
Question 2: An agreement that governs an LLC does not discuss how it will be managed. Describe how the entity will be managed. 18. LLCs follow the partnership principle of "pick your partner." Fully describe what this means.
Question 3: An agreement that governs an LLC does not discuss how distributions of profits of the LLC will be made. David contributed 40 percent of the LLC's initial capital, Margot contributed 45 percent of the initial capital, and Lauren contributed 15 percent of the initial capital. Under the ULLCA, how will profits of $100,000 be distributed? 20. An LLC neglected to file its annual report with its state of formation. Discuss the consequences of this neglect and whether there is anything the LLC can do to continue operating.
Calculate the net income. Calculate the balance of Retained Earnings that would appear on a Balance Sheet at December 31, 2012.
Prepare a well-formatted Balance Sheet for The Topanga Company as of December 31, 2006. The Topanga Company Balance Sheet As of December 31, 2006
colby company had assets of 280000 and liabilities of 120000 at the beginning of the year and assets of 400000 and
October 1, 2021 Shares issued in a 100% stock dividend 4370000. What the number of shares to be used in computing earnings per common share for 2021
How much is the venture income? Explain the answer. R, S and T formed a joint venture. R is to act as manager and is designated to record the joint
On February 13, Elman Corporation issued for cash 75,000 shares of no-par common stock (with a stated value of $125) at $140. On September 9, Elman issued 15,000 shares of 1%, $60 preferred stock at par for cash.
mozena corporation has collected the following information after its first year of sales. sales were 1600000 on 100000
The owner of a bicycle repair shop forecasts revenues of $180,000 a year. Prepare an income statement for the shop
the thomas company now has 12000 his is what they paid for the inventory of obsolete inventory stock. this inventory
Their bank will lend them $100,000 for 60 days at a cost of $950 interest. What is the company's effective annual rate
Classification of Environmental Costs Consider the following independent environmental activities: A company takes actions to reduce the amount of material.
Calculate the fixed production costs absorbed by Clauds in the first quarter if absorption costing is used
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