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3 years ago

Determine whether each characteristic describes a general partnership (GP), limited liability company (LLC), both, or neither.

Business

1 answer:

andreev551 [17]3 years ago

6 0

Answer:

Explanation:

A general partnership is formed when two or more individuals come together and agree to share all their profits, assets, and the legal and financial liabilities.

Limited liability Company is a private company whereby the owners will be legally responsible for its debts based on the contribution of the capital thst they invested.

a. Must pay a business (corporate) income tax.

Neither. The above characteristic doesn't describe a general partnership (GP), or a limited liability company. They don't have to pay a corporate tax but will pay personal income tax by the owner.

b. When the business cannot pay its debts, creditors can take the owners' personal assets.

General partnership. When the business cannot pay its debts, creditors can take the owners' personal assets is a characteristics of general partnership.

c. All owners can have management duties.

Limited liability company. The above is a characteristics of limited liability company because all the members have equal status.

d. The owners are often referred to as members.

Limited liability Company. The owners of a limited liability Company are often referred to as members. This is contained in the Article of Organization.

e. Ownership is split among two types of owners: general and limited partners.

Neither. Ownership is split among two types of owners: general and limited partners isn't q characteristics of general partnership or limited liability Company.

f. Owners have limited liability.

Limited liability Company. Here, the owners have limited liability.

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The numerator of the return on common stockholders' equity is_____________. a.income before income tax b.operating income minus

elena-s [515]

The numerator of the return on common stockholders' equity is net income minus preferred dividends.

Option d

<u>Explanation:</u>

Return on common stockholders' equity which is also named as return on equity (ROE) ratio evaluates the accomplishment of a company in resulting income for the benefit of common stakeholders.

<em>Use of return on equity:</em>

Isolates common equity returns
Can be used to evaluate dividends
Evaluates the use of capital by the management

It is calculated by income available for stockholders divided by the total number of common stock and is expressed or represented in percentage. Income available for common stockholders can be arrived by reducing preference dividends from Net income.

That is, $\text { Net income }-\text { Preference dividends }=\text { Equity available for common stockholder }$

Hence, net income minus preferred dividends is the right answer.

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3 years ago

So I’m in IB and we have to come up with a creative personal project ... any ideas?

Karolina [17]

Maybe your could make earrings or jewelry out of litter to show how bad the issue is becoming?

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3 years ago

On July 1 of the current calendar year, Olive Company paid $8,200 cash for management services to be performed over a two-year p

Andrew [12]

Based on the amount paid by Olive Company for the two year period, the adjusting entry on December 31 would be a debit to an expense and a credit to prepaid expense for $2,050.

<h3>What would be the adjusting entry?</h3>

Based on the accrual method, only costs for the year can be recorded as expenses.

If any costs are for other periods, those costs would be credited to prepaid expenses.

The expense for this year for management services would be:

= Number of months from July to December x Amount paid / number of months in contract

= 6 months x 8,200 / 24 months

= $2,050

In conclusion, expenses will be debited $2,050.

Find out more on prepaid expenses at brainly.com/question/9270086.

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2 years ago

Using a single plantwide rate from question 25, the factory overhead allocated per unit of Product A in the Painting Department

fiasKO [112]

Answer:

a. $236.32 per unit

Explanation:

The Full question is "Adirondak Marketing Inc. manufactures two products, A and B. Presently, the company uses a single plantwide factory overhead rate for allocating overhead to products. However, management is considering moving to a multiple department rate system for allocating overhead. Overhead Total Direct Labor Hours DLH per Product A B Painting Dept. $250,000 10,000 16 4 Finishing Dept. 75,000 12,000 4 16 Totals $325,000 22,000 20 20"

A single plant wide factory overhead rate is been used. Thus, Overhead rate per hour = $325000 / 22000 hrs = $14.77

The total hours required to produce a product = 20 hours in painting + 20 hours in finishing

The total hours required to produce a product = 40 hours

Overhead per product = Overhead rate per hour * The total hours required to produce a product

Overhead per product = $590.8

The DLH required for a product A in painting department = 16 DLH

. Overhead rate per unit for product A in painting department = ($590.8/40 DLH) *16 DLH = $236.32 Per Unit

8 0

2 years ago

Agile project management is an approach to _______________product development time while _____________ risk through continuous i

grigory [225]

Answer:

Reduce, Minimizing

Explanation:

As per the given scenario Agile product, management wants to reduce the time for making the product on the other hand Agile minimizing the risk by making interaction from the customers and self-organizing team by taking care of quality, price, quantity, etc.

Since the company wants to reduce its product development time with the motive to produce more and more products in lesser time so that it delivers the product to the customer within the prescribed time.

7 0

3 years ago