Answer:
$0.00
Explanation:
LICC company issued the share and gave them to the officer, ABLE. During the same year, the condition on the stock is met to sell them, and ABLE exercises this option. LICC custody of the stock ends when the condition is met and ABLE can sell the shares.
These stocks belong to ABLE and selling these shares will impact their income tax, not the company. ABLE is a different tax-subject than LICC. Thus, LICC income taxes do not absorb the gain on sale in this transaction.
Answer:
The correct answer is letter "B": The business name must include the phrase Limited Liability Partnership or an abbreviation of the phrase, and the parties must file a form with the secretary of the state.
Explanation:
A Limited Liability Partnership or LLP is the type of business structure where partners are only liable for what they contribute to the firm. This implies if the firm goes into bankruptcy, the personal assets of the partners are not subject to liability. Under this type of partnership, the business name must include at least its abbreviation (LLP) and when setting up the firm, a letter to the secretary of state must be addressed informing about the creation of the new entity and its core purposes.
Closing costs are fees paid at closing by either party who are buying a house.
15% of 2,300 is = 345
345 is the profit you gained
2,300 is the selling price of the stock
2300(selling price) - 345(profit) = 1955
the paid for the stock is 1955
Answer:
$30,000 decrease in the net income of Fletcher Inc.
Explanation:
Product G contribution margin = Sales - Variable cost = $210,000 - $180,000 = $30,000.
Since the discontinuance would have no effect on the total fixed costs and expenses or on the sales of Products F and H, that means the fixed cost of $50,000 on product G will continue to be incurred while Product G contribution margin of $30,000 which is currently being contributed to the net income will be lost.
Therefore, the amount of change in net income for the current year that will result from the discontinuance of Product G is a $30,000 decrease in the net income of Fletcher Inc.
