In what way, if any, is pharming different from baiting?

Root and Vine is a gardening collective and local delivery service started by two friends. Their clientele has grown, and they w

Vesna [10]

When they want to protect their personal property, they may want to try out a limited liability company. By making it a limited liability company, they may choose to become limited partners and not have their personal property at risk. However, they have to find other partners who are willing to participate in the business as general partners. It is only the general partners who will have their property at risk when the company closes down so they have to make sure to get general partners.

6 0

3 years ago

Manufactured truck parts are part of which industry

qwelly [4]

Answer:

c

Explanation:

4 0

2 years ago

Read 2 more answers

Ajax is reviewing its previous 100% acquisition of Baxter to determine if there is goodwill impairment. At December 31, 2020 Aja

Sedaia [141]

Answer:

Baxter

The amount of the Goodwill write-off required to be booked by Ajax at December 31, 2020 under the FASB rules effective in 2020 is:

= $130,000.

Explanation:

a) Data and Calculations:

Recorded Goodwill = $330,000

Book value of net assets = $400,000

Book value of all assets = $730,000 ($400,000 + $330,000)

Estimated fair value of company = $600,000

Goodwill impairment = $130,000 ($730,000 - $600,000)

b) The Goodwill impairment of $130,000 arose when the book value or the carrying amount exceeded the estimated fair value.

7 0

3 years ago

Riley is a 50% partner in the RF Partnership and has an outside basis of $56,000 at the end of the year prior to any distributio

Savatey [412]

Answer:

The land basis will be $8,000 and partnership basis will be $42,000.

Explanation:

The outside basis at the end of the year is $56,000.

The cash basis is $6,000.

The fair value of land is $14,000.

The land basis to RF is $8000.

The partnership basis will be

=Outside basis-cash basis-land basis

=$(56,000-6,000-8,000)

=$42,000.

So, the land basis will be $8,000 and partnership basis will be $42,000.

5 0

3 years ago

A company's Office Supplies account shows a beginning balance of $630 and an ending balance of $460. If office supplies expense

nalin [4]

The correct answer is that there was $3,080 worth of office supplies purchased during the period.

In order to answer this question you know that the company started with $630 worth of office supplies and ended the year with $460 worth, or $170 less than they started with. The company used $170 of supplies from inventory, so they needed to purchase another $3,080 in order arrive at the $3,250 that we know was the total expense during the reporting period.

5 0

3 years ago