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SashulF [63]
3 years ago
8

Companies. John, Lesa, and Tabir form a limited liability company. John contributes 60 percent of the capital, and Lesa and Tabi

r each contribute 20 percent. Nothing is decided about how profits will be divided. John assumes that he will be entitled to 60 percent of the profits, in accordance with his contribution. Lesa and Tabir, however, assume that the profits will be divided equally. A dispute over the profits arises, and ultimately a court has to decide the issue. What law will the court apply
Business
1 answer:
noname [10]3 years ago
3 0

Answer: The profits would be shared equally

Explanation: This is because

Since there was no agreement stating how profits would be divided,then the applicable state Limited Liability Company statute will rule. Most LLC statutes states that if members do not specify how profits are to be divided, they will be divided equally. As long as no operating agreement or LLC statute addressed the particular issue, the partnership law applys which also indicates that profits should be divided equally among the owners of a firm unless it was specified otherwise.

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In what sense is test marketing a special type of experiment? What are its main objectives?
s344n2d4d5 [400]
The objective of test marketing is to find the limitations and strengths of the product based on customers' reactions. It also helps us to structure the marketing strategy of that product. A test marketing campaign aims to predict the revenue model (sales, profit, pricing).
5 0
2 years ago
The Bradford Company issued 12% bonds, dated January 1, with a face amount of $87 million on January 1, 2021. The bonds mature o
kakasveta [241]

Answer:

1. $77,783,220

2. Jan-21

Dr Cash $ $77,783,220

Dr Discount On Bond $9,216,780

Cr Bond Payable $ $87,000,000

Explanation:

1. Calculation to Determine the price of the bonds at January 1, 2021.

First step is to calculate the Present Value Of Annual Interest

a Semi-annual Interest Amount $5,220,000

($87,000,000*12%/2)

b PV Annuity Factor for (20 Years,14%/2=7%) 10.5940

c Present Value Of Annual Interest (a*b) $ $55,300,680

($5,220,000*10.5940)

Second step is to calculate Present Value Of Redemption Amount

a Redemption Value $ $87,000,000

b PV Factor Of (20 Years,7%) 0.25842

c Present Value Of Redemption Amount (a*b) $ $22,482,540

($87,000,000*0.25842 )

Now let Determine the price of the bonds at January 1, 2021.

Intrinsic Value ( Price ) Of The Bond = ($55,300,680+$22,482,540)

Intrinsic Value ( Price ) Of The Bond =$77,783,220

Therefore the price of the bonds at January 1, 2021 is $77,783,220

2. Preparation of the journal entries to record their issuance by The Bradford Company on January 1, 2021,

Jan-21

Dr Cash $ $77,783,220

Dr Discount On Bond $9,216,780

($87,000,000-$77,783,220)

Cr Bond Payable $ $87,000,000

(Being to record issuance of bond)

3. Preparation of the journal entries to record their issuance by The Bradford Company on ion June 30, 2021

Jun-30

Dr Interest expenses $ 53,82,240

Discount On Bond payable $ 2,22,240

Cash $5,220,000

4.Preparation of the journal entries to record their issuance by The Bradford Company on

December 31, 2021

Dec-31 Interest expenses $ 53,97,797

Discount On Bond payable $ 2,37,797

Cash $5,220,000

( to record interest payment)

6 0
3 years ago
A monopoly exists when _____ provides a good or service.
marishachu [46]
A company controls the market for a good or service
8 0
3 years ago
John was driving his car in a careless way, failing to drive as a reasonably prudent person would under the driving conditions.
Ilia_Sergeevich [38]

Answer:

1. <em>If this law of contributory negligence applies to the state, then Ramona will receive no compensation for the damages she sustained. </em>

<em> </em>2<em>. If this law of comparative negligence applies to this state, then Ramona will get 100% - 20% = 80% of the damages incurred in the accident, from John which will be $80,000</em>

<em />

Explanation:

In contributory negligence, the defense completely bars plaintiffs from any recovery if they contribute to their own injury through their own negligence.

<em>If this law of contributory negligence applies to the state, then Ramona will receive no compensation for the damages she sustained. </em>

<em> </em>

In comparative negligence, the plaintiff's damages is award by the percentage of fault that the fact-finder assigns to the plaintiff for his or her own injury i.e the plaintiff's damage compensation is reduced by percentage of his/her percentage of fault.

<em>If this law of comparative negligence applies to this state, then Ramona will get 100% - 20% = 80% of the damages incurred in the accident, from John</em>

this is 80% of $100,00 which is equal to <em>$80,000</em>

8 0
3 years ago
3. As the crisis in Venezuela deepened in late 2002 and early 2003, on January of 2003 the VEF was trading VEF1400/$. By Februar
aleksley [76]

Answer: 39.29%

Explanation:

For us to calculate the percentage change, we have to deduct the trading for VEF in January from the trading for VEF in February and then divide by VEF trading in January. This will be:

= (1950 - 1400)/1950

= 550/1400

= 0.3929

= 39.29%

The percentage change in January is 39.29%.

6 0
3 years ago
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