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Allushta [10]
3 years ago
15

Mary, Thomas, and Franklin form an LLC for the purpose of running a restaurant. Each invests $10,000 into the LLC. Two weeks aft

er the LLC is formed, Joanne patronizes the restaurant and suffers from severe food poisoning. If Joanne sues
a. the members could be liable for $10,000 each, the amount of their investment.
b. the members could be personally liable, but not for their investments in the LLC.
c. neither the members nor their investments will be liable in any capacity.
d. the members could be both personally liable and liable for their investments.
Business
1 answer:
il63 [147K]3 years ago
8 0

Answer:

C.) trust me

Explanation:

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The balance in Accounts Receivable at the beginning of the year was $ 550 comma 000. The balance in Accounts Receivable at the e
mina [271]

Answer:

$3,400,000

Explanation:

The computation of the credit sales is shown below:

As we know that

Closing balance of  accounts receivables = Opening balance of  accounts receivables + Credit Sales - Bad debts written off - Cash collected from credit customers

$750,000 = $550,000 + credit sales - $460,000 - $4,060,000

$750,000 = $4,150,000 + credit sales

So, the credit sales is

= $4,150,000 - $750,000

= $3,400,000

Simply we applied the above formula

5 0
3 years ago
b. If foreigners spend $7 billion on U.S. exports in a given year and Americans spend $5 billion on imports from abroad in the s
LiRa [457]

Answer:

$2 billion

Explanation:

Foreigners spend $7 billion on U.S net exports

Americans spend $5 billion on imports

Therefore the value of U.S net exports can be calculated as follows

= $7 billion-$5billion

= $2 billion

Hence the value of U.S net exports is $2 billion

7 0
3 years ago
What are the unique financial reporting implications of the partnership entity in comparison with the proprietorship and corpora
Pie

The financial reporting of the Partnership firm differs from the  proprietorship and corporate entities as the closing process of partnership involves creation of the realization account, whereas the another entity not required this.

<h3>What is financial reporting?</h3>

Standard techniques for giving stakeholders an accurate portrayal of a company's finances, including revenues, profits, expenses, cash flow, capital, and official records that provide in-depth insights into financial information, are referred to as financial reporting.

The payment of taxes, fines, and interests has new financial reporting consequences for partnership firms that are distinct from any other sort of business company.

Taxes paid to partners or owners, on the other hand, are accounted for in a transaction with the owners.

Furthermore, the financial reporting implications for a partnership firm differ from those for a sole proprietorship or a corporation, as the partnership business is distinct from the two stated businesses.

The closing process of partnership differs from the another businesses because the closing process of partnership involves the preparation of realization account.

Therefore, the partnership form of business enterprise is differed from the other business.

To learn more about the partnership, refer to:

brainly.com/question/19988417

#SPJ1

5 0
2 years ago
A company forecasts growth of 6 percent for the next five years and 3 percent thereafter. Given last year's free cash flow was $
Ilya [14]

Answer:

d. $2,676

Explanation:

The computation of the horizontal value is shown below:

FCF1 = (100 × 1.06) = 106

FCF2  = (106 × 1.06) = 112.36

FCF3 = (112.36 × 1.06) = 119.1016

FCF4  = (119.1016 × 1.06) = 126.247696

FCF5  = (126.247696 × 1.06) = 133.8225578

Now

Horizon value is

= FCF5 ÷ (Cost of capital  - Growth rate)

= 133.8225578 ÷ (0.08  - 0.03)

= $2,676

Hence, the correct option is d.

4 0
3 years ago
Rob, Dave, and Kelly understand the financial risks involved in starting their own brewery; that's why they've established their
Darina [25.2K]
I do believe its A.. yeap its A
8 0
3 years ago
Read 2 more answers
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