answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kow [346]
1 year ago
6

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

ntribute 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 Trevor, 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
Business
1 answer:
lianna [129]1 year ago
5 0

Answer: State Law.

Explanation:

This dispute falls under the jurisdiction of state law and so that is what the court will use. This is unless the company established a profit-sharing agreement as per the Uniform Limited Liability Company Act (ULLCA) and the state that they are in is one of the 19 states and District that enacted the UCCLA.

As the company never established a profit agreement principle, this falls under State law which normally calls for the division of profits equally amongst partners.

You might be interested in
Great Western Southern purchased $525,000 of equipment four years ago. The equipment is seven-year MACRS property. The firm is s
tester [92]

Answer: $153,782.70

Explanation:

The MACRS allowance percentages are as follows, commencing with Year 1: 14.29, 24.49, 17.49, 12.49, 8.93, 8.92, 8.93, and 4.46 percent.

In 4 years, the depreciation would be:

= Cost price * (4 year deprecation)

= 525,000 * (14.29% + 24.49% + 17.49% + 12.49%)

= $360,990

Book value :

= 525,000 - 360,990

= $164,010

Gain (loss) = Sale price - Book value

= 150,000 - 164,010

= ($14,010)

Tax payable = (14,010) * 27%

= ($3,782.70)

After-tax cash flow:

= Selling price - Taxes

= 150,000 - (-3,782.70)

= $153,782.70

<em>Note: If there are options, beware of rounding errors and pick nearest option. </em>

6 0
2 years ago
Select the correct answer from each drop-down menu. Read the passage. What should Milo do? What customer service skills would he
ad-work [718]

Answer:

a. Milo should disclose all the information about the product

b. Milo is showing honesty about what the customers should expect about the product

Explanation:

a.

A customer service agent is someone who offers assistance to it's customers on behalf of the company. The agent covers issues like; answers questions about the product and guides the customers on how to use the product. Customer services has become more necessary in the recent past due to advancement in communication technology and high competition. Good customer service ensures that a company can retain and get more customers to purchase it's products. When more customers purchase a product, the sales also increase significantly. More sales translates to increased profits, which is the goal of most business organizations. Some of the customer service skills that can assist a company to achieve increased sales are;

1. Communication skills: a customer service has to be able to communicate clearly to the customers to ensure effective transfer of product information.

2. Good listening skills: they need to listen attentively and play keen attention to details to ensure that all the customer's needs are met. This enhances trust.

3. Knowledge about the product: a good agent has to have extensive knowledge about the product since customers will be expecting information about the product from the agents. An agent who seems to have little information about the product will definitely lose the customer's trust.

4. Honesty: the agent has to give the customer all the information about their product even if they will lose the customer. One needs to understand that lying to the customer in most cases takes the customers trust away. But being truthful about the product, might make one lose a customer at that moment but at least the customer will have some level of trust since the agent was honest.

In our case, Milo should disclose all the information about the cruise ship including the extra charges for bottled water. The couple might decline the offer on account of it being above their price range, but they will have some trust in Milo. This trust could make the couple interested in the cruise ship at another time when they can afford it. However, if Milo decides to keep the information away from them, the customers will feel cheated and will never trust Milo again. In this way, Milo loses the customers for life as opposed to losing the customers only once.

b.

In this case, Milo is showing honesty. By disclosing all the information about the product, Milo is being honest about what the product is going to offer and it's associated price. Honesty fosters trust in customers. When a customer fully trusts you, they would rather purchase your product at a slightly higher price than settle for a product whose qualities is not guaranteed.

8 0
2 years ago
Barclay Enterprises manufactures and sells three distinct styles of bicycles: the Youth model sells for $440 and has a unit cont
Tanya [424]

Answer:

$21,370

Explanation:

A composite unit is a set of different products grouped together in proportion to their sales mix. The unit is a basis for grouping products from different segments of an entity together with the aim of managing inventory levels, break even points, and sales.

The selling price of the composite unit can be calculated as follows:

||Bicycle model |No. of bicycles |Unit selling price |Total per composite unit

|Youth models| 5                         | 440                     |   2,200

|Adult models|   9                        | 990                     |   8,910

|Recreational models| 6              | 1,140                    |  <u>10,260</u>

                Selling price per composite unit               <u>21,370</u>

4 0
2 years ago
Coast-to-Coast Inc. is considering the purchase of an additional delivery vehicle for $70,000 on January 1, 20Y1. The truck is e
NARA [144]

Answer:

First year:            19,000

Second year:       17,000

Third year:           15,000

Forth year:           13,000

Fifth year:            30,000

Explanation:

We need to subtract from the expected revenue the expected cost for Cash revenue                65,000

Driver Cost:         (40,000)

Operating cost: <u>    (6,000)   </u>

Net cash flow:       19,000

This value stand for the first year

Then this will decrease by 2,000 each year as the driver wages increase over time.

Second year: 19,000 - 2,000 = 17,000

Third year: 17,000 - 2,000 = 15,000

Forth year: 15,000 - 2,000 = 13,000

In the last year we must also include the residual value of the equipment:

Fifth year: 13,000 - 2.000 + 15,000 = 30,000

4 0
2 years ago
Kelsey Construction has purchased a crane that comes with a 5-year warranty. Repair costs are expected to average $5000 per year
adelina 88 [10]

Answer:

he is dead

Explanation:

7 0
1 year ago
Other questions:
  • Which is the correct order for the steps of the policy cycle? 1. a problem is identified and moved to the government's to-do lis
    8·1 answer
  • Equipment that cost $420,000 and on which $200,000 of accumulated depreciation has been recorded was disposed of for $180,000 ca
    11·1 answer
  • Suppose the market for tortillas is initially in equilibrium, but then the equilibrium wage rate and the equilibrium quantity of
    10·1 answer
  • Suppose that you run the central bank of Fredonia. If you were concerned that monetary surprises may destabilize the economy, yo
    14·1 answer
  • DS Unlimited has the following transactions during August. August 6 Purchases 84 handheld game devices on account from GamerGirl
    14·1 answer
  • An on-premises workload consists of a single server with an Apache instance and a MySQL database. The Solutions Architect plans
    6·1 answer
  • Loreal-American Corporation purchased several marketable securities during 2021. At December 31, 2021, the company had the inves
    11·1 answer
  • Per Chevron’s 3Q 2013 filing, what was the percentage change in the cost of purchased oil products when comparing nine months en
    10·1 answer
  • Julie is working on formulating a marketing plan to increase the market share of Little Debbie Snack Cakes. According to the dis
    14·1 answer
  • Which of the following terms refers to the study of how organizations function and how they affect and are affected by the envir
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!