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Stels [109]
3 years ago
10

You and your neighbor Diane have agreed to be partners in CreatePlace Site Design, a website design business for small businesse

s, clubs, and community agencies. After reading the information below, indicate which are indicative of a general partnership and which are indicative of a limited partnership using the drop-down menu. You will also decide who will be a limited partner and who will be a general partner in your new business. Diane wants to invest $5,000 but she will not have an active role in the new business. You prefer to work directly with customers, make decisions, and to do the actual website design. You will be responsible for signing contracts on behalf of the new business. Diane will not be liable for any debts. Diane will not make business decisions and receive 30 percent of the profits. You will receive 50 percent of the profits plus a small monthly fee for management services. Diane’s name will not be mentioned in any promotional materials about the business.
Business
1 answer:
kramer3 years ago
8 0
Diane wants to invest $5,000 but she will not have an active role in the new business. (limited partnership) You prefer to work directly with customers, make decisions, and to do the actual website design. (limited partnership) You will be responsible for signing contracts on behalf of the new business.(limited partnership) Diane will not be liable for any debts.(limited partnership) Diane will not make business decisions and receive 30 percent of the profits. (limited partnership) You will receive 50 percent of the profits plus a small monthly fee for management services. (general partnership) Diane’s name will not be mentioned in any promotional materials about the business. (limited partnership)

<span>Diane will be the limited partner while you will be the general partner.</span>

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4 0
1 year ago
Semi-Salt Industries began its operation in 1975 and remains the only firm in the world that produces and sells commercial-grade
Airida [17]

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8 0
3 years ago
Who is the current ceo of earthwear how much did accounts payable change in dollars and percent from 2014 to 2015. in which of t
aleksley [76]
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From 2014 to 2015, the accounts payable change in dollars with an increase of $14,077 which is equivalent to 20.07%.

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3 years ago
The following revenue and expense account balances were taken from the ledger of Wholistic Health Services Co. after the account
vova2212 [387]

Answer:

Wholistic Health Services Co.

Income Statement for the year end February 28, 2019

Service Revenue                           $270,900

Less: Supplies Expense                <u>$3,000    </u>

Gross Income                                  $267,900

Less operating Expenses:

Insurance Expense         $4,000

Depreciation Expense    $9,000

Miscellaneous Expense $6,000

Utilities Expense             $1,760

Rent Expense                  $4,200

Wages Expense              <u>$213,000</u>

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Net Income                                    <u>$29,940  </u>    

Explanation:

Income statement shows the performance of the company in a year. It provides the details of revenue, expenses and profits for the year. All the expenses are deducted from the revenue to determine the net earning of the business.

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Answer:

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