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Zepler [3.9K]
3 years ago
14

Logan Nettles approached Kevin Lang about becoming a partner in a firm that destroys environmental waste. While Logan would like

to become a partner in the firm, he is concerned about his liability because he has recently inherited a lot of money. In this situation, Logan should become a:_______________. a. general partner with a majority ownership interest in the business. b. general partner with a minority ownership interest in the business. c. limited partner. d. joint venturist. e. sole proprietor.
Business
1 answer:
Stells [14]3 years ago
5 0

Answer:

<em>c. limited partner.</em>

Explanation:

<em>In the presented scenario, Logan Nettles should become a</em> <u>limited partner</u>.

Limited partner is the partnership in which one  limited partner is been required compulsory. This is slightly different from general partnership. In this profit of the business is limited and the debt and dis-advantage on the amount of investment is also limited.

So we can see that Logan is also concerned about his disadvantage which is known as liability.

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Norr and Caylor established a partnership on January 1, 2010. Norr invested cash of $100,000 and Caylor invested $30,000 in cash
solmaris [256]

Answer and Explanation:

a. The net income allocated to each partner is shown below:-

                                      Norr               Caylor                Total

Interest                         $12,000         $9,600               $21,600

Compensation             $10,000         $14,000              $24,000

Subtotals                      $22,000        $23,600             $45,600

Allocation of reminder $14,640         $9,760                $24,400

Totals                             $36,640       $33,360             $70,000

b. The balance in both capital accounts is shown below:-

                                                  Norr               Caylor

Beginning capital balances    $100,000       $80,000

Share of income                       $36,640       $33,360

Withdrawals                              ($12,000)      ($12,000)

Ending capital balances         $124,640      $101,360

6 0
3 years ago
What are the requirements for being a dental assistant?
AlexFokin [52]
1. Determine whether you possess general characteristics to become a dentist.
2.Complete your prerequisite educational requirements.
3.Take the Dental Admissions Test (DAT).
4.Apply for admission to a dental school.
5.Attend dental school.

7 0
3 years ago
How has the Timberland Company incorporated the four pillars of its corporate social
DENIUS [597]

Answer:

The four pillars are energy, product, workplace and service.

Please mark Brainliest

Explanation:

The Timberland Company have a tradition of Corporate Social Responsibility, Timberland have always been committed to environment and social sustainability. The four pillars of Timberland Company for Corporate Social Responsibility are Energy, Product, Workplace and Service.

Please mark as Brainliest

5 0
3 years ago
Your firm’s biggest client is coming to town today. You have been assigned the important task of showing him the town and being
melisa1 [442]

Answer:

Ethical dilemma

Explanation:

This scenario causes a situation of ethical dilemma or also known as ethical paradoxes or moral dilemma. In ethical dilemma both the available choices are wrong and are conflicting with each other the decision between right and wrong is ethics, but when such a situation arises the decision is to be taken by the person facing this ethical dilemma and his/her actions solely depends on the moral choices of the person and his/her views about ethics.

3 0
3 years ago
Danny deposits $50 in a savings account at 5 percent interest for 3 months. How much will be in the account after 3 months?
sveticcg [70]

Answer:

$ 50.625

Explanation:

Amount of deposit = $50

interest 5 percent  usually per year

Per year interest rate = 5/100= 0.05

Interest rate for 3 months= 0.05/12 x3

      =0.0125

Interest amount =0.0125 x50= 0.625

Money in the account will be

=$50+0.625

=$ 50.625

5 0
3 years ago
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