1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Juliette [100K]
3 years ago
10

Sally and Alicia currently are general partners in a business located in Atlanta, Georgia. They are content with their current t

ax situation but are both very uncomfortable with the unlimited liability to which they are each subjected. Which form of business entity should they consider to replace their general partnership assuming they wish to remain the only two owners of their business
Business
1 answer:
Sonbull [250]3 years ago
7 0
Limited liability company is a distinct legal entity where members can held personally liable for the debts and liabilities for the company. Limited liability partnership combines characteristics of a partnership or corporation or sole proprietorship.

As in the given case, both sally and alice are uncomfortable with current tax situation as both are suffering with unlimited liability. it is better for them to opt limited liability partnership where in which persons are not held personally liable.
You might be interested in
Elka can remember the phone number she just looked up only by repeating it over and over. When she stops saying it out loud, she
Harrizon [31]

Answer:

maintenance; short-term

Explanation:

When she stops saying it out loud, she forgets it. Elka is using maintenance rehearsal to keep the information in short-term memory

Maintenance Rehearsal is the process of repeatedly verbalizing or thinking about a piece of information.

3 0
3 years ago
These are selected 2017 transactions for Blue Corporation: Jan. 1 Purchased a copyright for $79,500. The copyright has a useful
Whitepunk [10]

Answer:

Check the explanation

Explanation:

Patents and Copyrights are amortized based on their useful life, not their legal life

It should be noted that Goodwill is not amortized

1. Debit 'Amortization Expense - Copyrights' $15,900 [($79500/ 5)]

Credit 'Copyrights' $15,900

2. Debit 'Amortization Expense - Patents' 18,800 [($112,800 / 5 ) x (10 /12 )]

Credit 'Patents' $18,800

.3. No entry

3 0
3 years ago
Which sentence indicates that Roger's company, Fine Jewelry, follows a subscription business model? Roger's company, Fine Jewelr
nlexa [21]

Answer:

Its "Customers get a new piece of jewelry every three months.

Explanation:

The first option, never tells what the customer gets in return.

 Sorry this answer is two weeks late. Happy Thanks Giving!

6 0
2 years ago
Two brothers wish to open an account to trade stocks, with one brother depositing $100,000, and the other brother depositing $20
Lostsunrise [7]

Answer:

The account should be opened as a Joint account with tenancy in common. Option C.

Explanation: This type of account is one that is owned by at least two people and in which there is no rights of survivorship.

In this type of account, the members do not want their investments to go to other members of the joint account upon their death, but they specify in a will how the investment will be distributed to their beneficiaries.

Joint account with tenancy in common can hold an unequal amount of investment among members, but they still have equal rights to the account.

4 0
3 years ago
Beth's business purchased only one asset during the current year (a full 12-month tax year). Beth placed in service machinery (7
nalin [4]

Answer:

the depreciation expense on the equipment will be 1,785 for tax purpose.

Explanation:

We will look into the MACRS (Modified Accelerated Cost Recovery System)

table for a property of seven years placen into service in the 4th quarter:

Which give us 3.57%

now we multiply the basis by the coefficient and get the value for depreciation

50,000 x 3.57% = 1,785 depreciation expense under MACRS

4 0
3 years ago
Other questions:
  • When Anhueser Busch InBev sells Budweiser beer made in St. Louis, MO, to Germany, the sales of its product would be classified a
    8·1 answer
  • The terms of trade must be higher (graphically to the right) of a nation's own production __________________
    11·1 answer
  • Jermaine, a member of a student organization, supports the move to increase the membership fees for their organization in order
    14·1 answer
  • On june 30, 2016, colora printers purchaed a printer for 69,000. it expects the printer to last for four years and have a residu
    15·1 answer
  • Greater optimism about the expected profits from investment projects A. shifts the demand for loanable funds curve leftward. B.
    10·1 answer
  • While gambling at Prairie Meadows Casino, Troy Blackford became angry and smashed a slot machine. He was banned from the premise
    14·1 answer
  • Ford motor company sells the fusion ses for $24,400. the fusion hybrid sells for $29,975. what is the percentage increase in pri
    14·2 answers
  • The Higgins Company has just purchased a piece of equipment at a cost of $120,000. This equipment will reduce operating costs by
    8·1 answer
  • Innovation and enterprise can help to develop new and niche markets - True or False?
    15·1 answer
  • If the government levies a $1,000 tax per boat on sellers of boats, then the price paid by buyers of boats would a. increase by
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!