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Elden [556K]
4 years ago
13

Tom is talking to his friend Bob, who has an interest in Freedom, LLC, about purchasing his LLC interest. Bob's outside basis in

Freedom, LLC, is $7,000. This includes his $1,900 one-fourth share of the LLC's debt. Bob's 704(b) capital account is $14,000. If Tom bought Bob's LLC interest for $11,000, what would Tom's outside basis be in Freedom, LLC
Business
1 answer:
olga55 [171]4 years ago
4 0

Answer: $12,900

Explanation:

From the question, we are told that Tom is talking to his friend Bob, who has an interest in Freedom, LLC, about buying his LLC interest. Bob's outside basis in Freedom, LLC, is $7,000 which includes his $1,900 one-fourth share of the LLC's debt. Bob's 704(b) capital account is $14,000. We are further told that Tom bought Bob's LLC interest for $11,000.

Tom's outside basis be in Freedom, LLC will be the amount that he paid for Bob's LLC interest plus the share of LLC’s debt. This will be:

= $11,000 + $1,900

= $12,900

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Frantic Fast Foods had earnings after taxes of $430,000 in 20X1 with 345,000 shares outstanding. On January 1, 20X2, the firm is
Anuta_ua [19.1K]

Answer:earnings per share for the year 20X1= $1.25 per share

earnings per share for the year 20X2 = 1.40

Explanation:

Earning per share is calculated as  = Earning after taxes ÷ Shares outstanding

Therefore, earnings per share for the year 20X1.

= $430,000 ÷345,000 shares

= $1.25 per share

2. In the next year,there was a change in earnings after tax by 23 percent and an increase in shares by  34,000,

Therefore, we have earnings per share for the year 20X2 as  

= ($430,000 × 1.23) ÷ ( 345,000 + 34,000)

=528,900/379000

=1.3955 rounded to 1.40

3 0
3 years ago
Jenny Welch works at a retail store selling sports equipment. Her daily tasks include opening the store, creating the work sched
Wittaler [7]

Answer:

A. Managerial

Explanation:

Based on the information provided within the question I would place Jenny at the managerial level. This is basically due to the fact that all her tasks are tasks usually completed by managerial level employees within a company. Managerial employees are in charge of Planning, Organizing, Leading and Controlling those employees that are underneath them in the organizational pyramid. All done in order to reach organizational goals.

6 0
4 years ago
Managers are important members of the organization. Within an organization, there are managers at four levels: top, middle, firs
Zolol [24]

Answer:

1. Pat is Middle Level.

Pat is trying to implement the strategic goals of the company which are set by Top Management. That would make Pat a Middle level manager.

2. Rick is Top Level.

Rick is developing the policies for the entire company which would place Rick at Top Manager level.

3. Daisy is a First-line Manager

Daisy is responsible for the loading products such that it is done effectively. This is an operational duty which would place Daisy at First-line level.

4. Ruth is a First-Line Manager

Ruth directs art staff who are non-managers which would make Ruth a first-line manager

5. Gary is Top Level

By developing projections on long term growth, that means Gary contributes to strategic decisions thereby making Gary top level.

6. Greg is Middle Level

Greg is in charge of first line managers which places him directly on top of them which means he is a middle level manager.

7. Mike is a Team Leader

Mike is in charge of the team which is the textbook role of a team leader.

8. Nancy is a Team leader

The members of the team go to Nancy when they need to resolve conflict or when they want to coordinate their activities. As the team leader is in charge of team coordination, Nancy must therefore be a team leader.

5 0
3 years ago
What does the president consider to be the most important criterion when making political appointments to the bureaucracy?
andrew-mc [135]

Answer:

loyalty to the President

Explanation:

The President of the United States makes all the important political appointment of the bureaucracy to the Government offices. He does that appointing his favorite officials to the offices of the United States different federal agencies. One of the most important criteria that the President considers while appointing the bureaucracy officials is "loyalty to the President."

The President seeks those people who are loyal to him and follows every orders and advices of the President. The President keeps in mind that no one disobeys him and follows his order without any hesitations.

Thus the answer is "loyalty to the President."

7 0
3 years ago
Which sentence is an example of an I-statement?
Alborosie

an example of an I statement would be d: I feel hurt when you ignore me at meetings; it makes me think that you don’t value my opinion.

8 0
3 years ago
Read 2 more answers
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