Answer: A. limited liability company.
Explanation:
A Limited Liability Company (LLC) is a type of company that is operated and taxed like a partnership for instance, profits that flow to the partners are taxed on the partner's income but not on the firm to prevent double taxation. This is called Flow-Through Taxation.
They operate with limited Liability for the owners because the owners are only personally liable for the debts and liabilities the company has up until the capital they invested. Anything past this and they cannot be held liable.
Answer:
par value of the shares issued.
Explanation:
In the case when the corporation issued the capital stock with regard to the service payment so the least & appropriate basis for recording the above transaction would be the par value of the shares issued as it would leads to the excess payment
Therefore according to the given situation the last option is right
They can be described as traumatized, horrified, mortified, etc.
Answer:
-$210,000
Explanation:
Issued Common Stock at par for Cash $250,000
Less:
Declared and paid a cash dividend $20,000
Repayment of 6-year note payable $440,000
Net Cash provided by Financing Activities ($210,000)
Answer:
$1,200,000
Explanation:
Jack Corporation
Carrying value before net loss:
($1,500,000 - (20% x $1,000,000))
=$1,500,000-$200,000
= $1,300,000
Jack's share of net loss recognized in full:
20% x $6,000,000
= $1,200,000
Therefore the amount of loss should Jack report in its income statement for 2021 relative to its investment in Jill will be $1,200,000
