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masya89 [10]
2 years ago
6

Albert joined a limited partnership with an investment of $10,000 for his interest. There were nine other limited partners who i

nvested the same amount. There were two general partners who invested $100,000 each. The general partners filed the certificate of limited partnership in the wrong location. The general partners negotiated the purchase of two separate parcels of real estate, signing notes for both on behalf of the limited partnership. The seller of the first parcel was aware that there were only two limited partners and that the remaining partners were limited partners. The seller of the second parcel thought that she was dealing with a general partnership with all of the partners as general partners. After these transactions, when Albert discovered the defective filing, he notified the general partners, who immediately made a correct filing. What personal liability does Albert have in connection with these two transactions?
Business
1 answer:
KIM [24]2 years ago
4 0

Answer:

Albert will not have unlimited liability for either of those transactions since he is a limited partner.

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Greg sold an apartment building he owned for 20 years. He paid $100,000 for it, and made $300,000 worth of improvements. His dep
Marat540 [252]

Answer:

Greg’s capital gain on the apartment = $590,000

Explanation:

Purchase Cost = $100,000

Improvements = $300,000

Total Initial cost = Purchase Cost + Improvements

Total Initial cost = $100,000 + $300,000

Total Initial cost = $400,000

Depreciation for 20 Years = Depreciation per annum * 20

= $2,500 * 20

= $50,000

Net Book value after 20 Years = Initial cost - Depreciation for 20 Years

= $400,000 - $50,000

= $350,000

Capital Gain = Net Sale - Net Book Value

When Net Sale = Sale Price - Commission

= $1,000,000 - $ 60,000

= $940,000

Hence, Capital Gain = Net Sale - Net Book Value

Capital Gain = $940,000 - $350,000

Capital Gain = $590,000

7 0
2 years ago
You want to sell your Wii because you received a PS3 for your birthday. You post an ad at school that says, "Wii for sale for $1
Colt1911 [192]
No, it is not a valid acceptance of your offer, because it will depend on whether if he is just inquiring (most likely for another person), or if you are willing to lower the price in the first place.

hope this helps
8 0
2 years ago
At December 1, 2014, Cursive Company's accounts receivable balance was $1,200. During December, Cursive had credit revenues of $
meriva

Answer:

The correct answer is C

Explanation:

Accounts receivable is the term of accounting, which is defined as the legally enforceable claims for the payment that is held through a business for the goods supplied as well as service rendered that the client have ordered but not paid.

Computing the balance of accounts receivable as:

Accounts receivable balance = Accounts receivable balance as on December 1, 2014 + (Credit revenue - Received revenue)

where

Accounts receivable balance as on December 1, 2014 is $1,200

Credit revenue is $4,800

Received revenue is $4,000

So, putting the values above:

Accounts receivable balance = $1,200 + ($4,800 - $4,000)

Accounts receivable balance = $1,200 + $800

Accounts receivable balance = $2,000

It is positive, so, it is debit balance

6 0
2 years ago
The WorldLight Company produces two light fixtures (products 1 and 2) that require both metal frame parts and electrical compone
Deffense [45]

Answer:

Explanation:

a) x1 = number of unit product 1 to produce , and

x2 number of unit product 2 to produce

A linear program that will maximize world light profit is the following

maximize x_1+2x_2 subject to x_1+3x_2\leq 200

2x_1+2x_2\leq 300\\\\x_2\leq 60\\\\x_1\geq 0\\\\x_2\geq 0

Unit 1 is used both in products in 1 : 3 ratio which can be a maximum of 200 unit 2 is used in 2 : 2 ratio which can be maximum of 300

So, this can be written as the inequations

Profit functio is p = 0ne dollar on product A and two dollar on product B

= x + 2y

Now , we find a feasible area whose extremeties will give the maximum profit for, the  graph is ( see attached file )

So on the graph, we can get the other extremeties of the shaded regional so which will not give maximum profit ,

Thus , the maximum possible profit is

p = ($1 * 125) + ($2 * 25)

= $175

4 0
2 years ago
A company has four project investment alternatives. The required rate of return on projects is 20%, and inflation is projected t
Alika [10]

Answer:

Project Anna is most beneficial project it should be on first Priority.

Order in which Project to be prioritised:

  1. Project Anna
  2. Project George
  3. Project Carol
  4. Project Thomas

Explanation:

* The Tables and requirement for this question is missing, both are attached with the answer. Please find it

Present Values:

Project Carol = ($51,571.5)  

Project George  = ($42,233.9)

Project Thomas  = ($272,802.7)

Project Anna  = $84,933.6

NPV Calculation is attache with the answer in MS Excel format Please Find That.

5 0
2 years ago
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