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2 years ago

Which of the following governs a limited partnership, its internal affairs, and the liability its limited partners

Business

1 answer:

Fudgin [204]2 years ago

6 0

The correct option is : the law of the state in which it is organized.

<h3>What is limited partnership?</h3>

Limited partnership (LP) is a type of partnership organization that limits the personal liability of some partners. In general partnerships, every partner remains personally liable for the debts and obligations of the partnership.

A limited partnership (LP)—not to be confused with a limited liability partnership (LLP)—is a partnership made up of two or more partners. The general partner oversees and runs the business while limited partners do not partake in managing the business. However, the general partner of a limited partnership has unlimited liability for the debt, and any limited partners have limited liability up to the amount of their investment.

There are three forms of partnerships:

Limited partnership.
General partnership.
Limited liability partnership.

Therefore, we can conclude that the correct option is D.

Your question is incomplete, but most probably your full question was:

Which of the following governs a limited partnership, its internal affairs, and the liability its limited partners?

A. the federal government

B. all states in which the business operates

C. the articles of limited partnership

D. the law of the state in which it is organized

Learn more about Limited liability partnership on:

brainly.com/question/25012970

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Red Corporation, which owns stock in Blue Corporation, had net operating income of $200,000 for the year. Blue pays Red a divide

castortr0y [4]

I believe it’s b more than 20 percent

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4 years ago

The following information is provided for Sacks Company before closing entries. Cash $ 12,000 Supplies 4,500 Prepaid rent 2,000

RideAnS [48]

Answer:

b. $78,500

Explanation:

Assets

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Cash $12,000

Supplies $4,500

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Total Assets $83,500

Equity and Liabilities

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Retained earnings $10,500

Total Equity $78,500

Accounts payable $5,000

Total Equity and Liability $83,500

*Working

Net Profit = Service revenue - Salaries Expenses - Miscellaneous expenses

Net Profit = $30,000 - $4,500 - $20,000 = $5,500

Total retained Earning = $8,000 + $5,500 - $3,000 = $10,500

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3 years ago

Which transaction would be reported on a company's Statement of Changes in Equity?

Goshia [24]

Answer:

3. Dividend distribution to shareholders

Explanation:

The type of transaction that would be reported on a company's Statement of Changes in Equity is Dividend distribution to shareholders. The Statement of Changes in Equity is not regarded as part of the Financial Statements of a company but it is usually presented annually as a separate statement.

The Statement of Changes in Equity shows the details about changes in a company's assets, liabilities, and the owner's equity. The Statement of Changes in Equity is necessary because it shows important details about equity reserves that are not usually stated in financial statements. It shows the details about changes in the share capital of the company and the total income and loss of the company and the impact of it on the company, additional money invested into the business and details of the investment done, the dividend distributed and/or paid to shareholders and if there is any change in accounting policy of the company. It will also show the proceeds from any sale made by the company, unlike the financial statements.

Some of the transactions that will be reported in the Statement of Changes in Equity will include

The Net/total profit or loss of the shareholders.

The changes in share capital reserves either increase or decrease.

The dividend distributed and/or paid to shareholders.

Whether there is a change in the accounting policy of the company.

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3 years ago

Jagadison Co. leases computer equipment to customers under sales-type leases. The equipment has no residual value at the end of

Rasek [7]

Answer: $235,844

Explanation:

Interest revenue = Total lease payments - Fair value of equipment

The lease payments are constant and so are an annuity and will be an annuity due because the first lease payment of such leases are made immediately.

Present value of lease payments = Annuity * Present value factor of Annuity due, 5 years, 12%

989,065 = Annuity * 4.0373

Annuity = 989,065 / 4.0373

= $244,981.79

Total lease payments = Lease payments * number of years

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= $1,224,908.95

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3 years ago

Greg, a cash method of accounting taxpayer, owns 100 shares of Parker Corporation stock with a basis of $20,000. Greg receives t

LenKa [72]

Answer:

Option C is correct one.

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4 years ago

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