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Andrews [41]
3 years ago
10

Which statements indicate that Rick’s company is a limited liability company? Rick Douglas is a bright and passionate lighting d

esigner. Following his passion for innovative lighting solutions, he founded a company called Dazzle in 2000. Dazzle is a successful, small company with annual revenue of $25 million. It offers residential, commercial, and theatrical lighting solutions. Apart from Rick, there are several other owners in the company who have made tremendous contributions to its growth. The profits are shared in a fair manner among all owners. Because Dazzle is not a separate tax entity, all the owners declare revenue earned through the company on their personal federal tax returns. The success of the company turned Douglas and the other owners into millionaires. Rick has a villa in the prestigious Kimberly Hills area. The $5 million dollar villa is protected from business liabilities unless the liability is incurred through wrongful acts.
Business
1 answer:
uranmaximum [27]3 years ago
4 0

The statements are:

Because Dazzle is not a separate tax entity, all the owners declare revenue earned through the company on their personal federal tax returns.

The $5 million dollar villa is protected from business liabilities unless the liability is incurred through wrongful acts.

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There is no effect on the accounting equation.

<h3>What is accounting equation?</h3>

Accounting equation is the one which states that a company's total assets are equal to the sum of its liabilities and its shareholders' equity.

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The above means that land is not depreciated, therefore assets decrease (-land) but also increase (+cash).

The elements of accounting equation are :

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Learn more about account equation here: brainly.com/question/24401217

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2 years ago
Andrew is offered a job in Little Rock, where the CPI is 80, and a job in New York, where the CPI is 125. Andrew's job offer in
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Answer:

The job in New York should offer $65,625.

Explanation:

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To represent the same purchasing power salary in New York should be

= \frac{CPI\ in\ New\ York}{CPI\ in\ Little\ Rock}\ \times\ Salary\ in\ Little\ Rock

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3 years ago
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3 years ago
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