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3 years ago

Statement of Members' Equity, Admitting New Member The statement of members' equity for Bonanza, LLC, follows:

Business

1 answer:

Crank3 years ago

5 0

Answer:

a. Idaho Properties, LLC = $57000/190000 = 0.3 = 30%

Silver Streams, LLC = $133000/$190000 = 0.7 = 70%

income-sharing ratio = 3:7

b. Idaho Properties, LLC = 62500/250,000 = 0.25 = 25.0%

Silver Streams, LLC = 137500/250,000= 0.55 = 55.0%

Thomas Dunn = 50000/250,000 = 0.20 = 20.0%

income-sharing ratio = 25:55:20

c. Thomas Dunn’s provided a $230,000 cash contribution to the business. The amount credited to his member equity account is this amount less a $10,000 bonus paid to the other two members

d. The positive entries is due to bonus paid by Thomas Dunn

e. Thomas Dunn contribution $230,000

Idaho Properties, LLC, member equity $330,000

SilverStreams, LLC, member equity $440,000

Total Equity $1,000,000

Dunn Contribution/Total member equity = $220,000/$1,000,000 = 0.22 = 22%

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Multiple choice-- economics

gtnhenbr [62]

Answer:

The effect of increasing the money supply on inflation

Explanation:

Economics can be classified into two (2) categories, namely;

1. Macroeconomics can be defined as the study of behaviors, performance and factors that affect the entire economy. Hence, it focuses on aggregate phenomena such as price level, economic growth, Gross Domestic Product (GDP), inflation, unemployment and national income levels with respect to the central bank, demand or supply shocks, government policies, aggregate spending and savings.

2. Microeconomics can be defined as the study of the effect of price and quantity levels through interactions between individual buyers and sellers in various markets.

Hence, it is focuses on analyzing or evaluating the decisions of consumers (buyers) and those of firms (sellers) such as methods of production, pricing; and the manner in which government policies affect those decisions.

In conclusion, microeconomics focuses on all of the aforementioned statements except the effect of increasing the money supply on inflation because it is a macroeconomic factor.

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3 years ago

the amount of federal income taxes withheld from an employee's gross pay is recorded as a(n) Opayroll expense Oliability O contr

crimeas [40]

Option c. A current liability is a correct answer. The amount of federal income taxes withheld from an employee's gross pay is recorded as a current liability

Under employment law, employers operate as intermediaries between employees and state and federal agencies. It is the obligation of employers to track and pay taxes, social security, and other payments from employee pay to government agencies.

The company must remit the amount withheld each quarter which means the amounts are owed in the current period. When taxes are paid, the FIT Payable account is debited to balance the transactions.

Option a) is incorrect as no asset is created by the withholding.

Option b) is incorrect as the taxes are not an expense paid by the company.

Option d) is incorrect as the payable operates as a normal liability account.

Learn more about income tax:

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1 year ago

On the advice of the city attorney, a City Jail Debt Service Fund is opened to account for debt service transactions related to

dem82 [27]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.

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3 years ago

"which group of organizational participants has the most vague job description?"

bezimeni [28]

Maintenance workers have the most vague job description out of all the positions. Every other position has a detailed list explaining all of their duties. However, the maintenance position only lists one sentence of what their duties entail.

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3 years ago

Which of the following people are structurally unemployed? Select all answer options that apply. Choose one or more: A. A worker

a_sh-v [17]

Answer:

Structural unemployment is present in case of A, B, C, and D.

Explanation:

Structural unemployment refers to the situation when the workers are unemployed because of the mismatch between the skills they possess and the skills the employers are looking for.

Unemployment caused by drought cannot be classified as structural unemployment. The rest of the examples involves cases of structural unemployment.

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3 years ago