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ella [17]
3 years ago
5

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

ribute 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? In most states, what will result? How could this dispute have been avoided in the first place? Discuss fully.
Limited liability companies are creatures of

1.state constitutions.

2.statute.

3.case law.

4.secondary sources
Business
1 answer:
marishachu [46]3 years ago
8 0

Answer:

<em>2.statute.</em>

Explanation:

<em>The court ruling will be decided by the contractual agreement signed by the three parties. A Limited Liability Agreement will usually be demonstrated by three parties signing a contract together. </em>

The situation will become difficult once, within each partner, there is no written statement about the distribution of profit. Every partner must obtain the suitable yield rate, based on their original investment.

The verdict begins to appear as if it falls into the hands of the state. By considering the Revised Uniform Partnership Act-Section 306. It relies heavily on where the business is registered, authorized, type of business.

However, John is the majority shareholder with 60 per cent of financial and legal accountability[ which is why he owes more to investment return]. It is also partly due to unlawful double tax laws and they are intended to protect the owner / partner of the business.

The confusion could've been avoided if an attorney and bookkeeper were available to describe the process, before the agreement was made and/or written. The condition they submit for incorporation makes a huge difference however, it does not seem to be the circumstance.

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Rios Co. makes drones and uses the variable cost approach in setting product prices. Its costs for producing 30,000 units follow
AnnyKZ [126]

Answer:

1. Variable cost per unit   = $150

2. Markup percentage     = 34.89%

3. Selling price                 = $202.33

Explanation:

Variable cost per unit = 70+40+25+15= $150

Fixed cost   =  670,000+ 305,000 +285,000= $1,260,000

Fixed cost per unit  =    1,260,000/30,000= $42

Profit per unit   =        <u>Targeted profit</u>

                               Targeted production unit

                          = <u>$310,000 </u>   =$10.33

                                30,000

Markup percenge =     <u>Fixed cost per unit + profit per unit</u>

                                          Variable cost per unit

                                =<u>$42+ $10.33</u>    =    <u>52.33 </u>* <u>100</u>   = 34.89%

                                       $150                   $150      1

Selling Price        =  Variable cost per unit + markup

                            =  $150+$42+$10.33

                             = $202.33

Variable cost-plus pricing is calculated by  determining variable costs per unit and adding mark-up which will cover fixed costs per unit and generate a targeted profit margin.

3 0
3 years ago
Read 2 more answers
Seth, Janice, and Lori each borrow 5,000 for five years at an annual nominal interest rate of 12%, compounded semi-annually. Set
Margaret [11]

Answer:

The total amount of interest paid on all three loans is 8,748.

Explanation:

Each person has borrowed 5,000 for the same period and with the same interest rate. However, the repayment is made differently by each person.

We calculate the interest paid by each person, and then sum up the three interest payments.

Seth pays = [5000 x (1 + 0.12/2)^10] - 5000 = 3,954

Janice pays = 5,000 X 0.06 x 10 = 3,000

Lori pays = [(5,000 x 10) / 7.36] - 5,000 = 1,794

Total interest payment = 3,954 + 3,000 + 1,794 = 8,748  

3 0
3 years ago
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gizmo_the_mogwai [7]
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Which pattern of internal migration is most often found in developed countries?
NISA [10]
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tankabanditka [31]
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7 0
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