. What are the major advantages of starting a partnership?
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In 5 or more sentences, answer the following
1. What are the major advantages of starting a partnership?
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- In 5 or more sentences, answer the following 1. What is the document needed in forming a partnership, and what should this document contain?In 5 or more sentences, answer the following 1. What is the main difference in the statement of financial position of a partnership compared to that of a sole proprietorship form of business?4. Suppose A, B, and C are accounting professionals who decided to start a partnership. What type of partnership will they establish? Explain.
- Hi! This topic is about Partnership Dissolution. The number 4 and 5 are my questions. choose the letter of answer. Thank you!!!1. Define what is partnership. (atleast 5 sentences)2. Define what is corporation. ( atleast 5 sentences)3. In the near future if you would given a chance to choose, what would you like to form Partnership or Corporation? then why? (atleast 5 sentences)5. What are the kinds of partnership? Please help me answer it, don't worry I'll rate it helpful, thank you!
- If Tara invests $10,000 at 5% interest for 5 years, what will her earnings be at the end of the 5 years? Select one: a.$12,500.00 b.$607.75 c.$2762.81 d.$500.00 Question 2 Question text To express ROI as a percentage, multiply the result of the calculation by _____. Select one: a.10 b.100 c.200 d.1000 Question 3 Question text Which of the following is an example of a limited partnership? Select one: a.Noah and Evan own a used-book store. When the company loses money, the two share the losses equally. b.Kate is the sole owner of her lawn care company. At the end of each business year, she pays all of the taxes on her profits. c.Leah runs a graphic design corporation but has two partners who each own 5 percent of the company. She pays personal income taxes, and her partners pay taxes in proportion to their ownership. d.Sean and Maya are partners in a family business. At the end of the business year, they can declare their losses as a tax deduction, and are…required: *discuss the advantages and disadvantages of partnership business *. please answer this question by providing at least 3 advantages and 3 disadvantages of partnership business.To start up a two-person partnership law firm, the partners each invest $125,000 of their own funds. If the partners could have earned a 5 percent return on these funds in another endeavor, what is their competitive return? Select one: a. $6,250 b. $12,500 c. $118,750 d. $237,500
- 3. For Das to obtain a 1/3 interest in the partnership, how much must his cash investment be? 4. How much is the capital of Adee upon partnership formation?Petersen, one of your clients, has indicated that Jacobsen is interested in buying Petersen’s interest in the partnership. Relevant information: (attached)Petersen has asked you a number of questions regarding selling his interest in the partnership. It is important to note that the partners vote on partnership matters in the same proportion as their profit and loss percentages.Prepare a response to each of the following questions:1. Given the above information, what is the suggested value of Petersen’s interest in the partnership?2. Petersen believes that there is significant additional value traceable to the partnership that is not reflected in the above information. In particular, Petersen believes that the partnership has significant goodwill and feels that his interest in the partnership is worth $130,000. What amount of total entity goodwill is suggested by this value?3. If Petersen were to sell half of his interest in the partnership to Jacobsen and half to Olsen, why might the…1. The ABC Partnership reports net income of P60,000. If Partners A, B, and C have income ratio of 50%, 30%, and 20%, respectively. What is the share of Partner C from the net income of the partnership, if he was given a capital ratio of 25%? 2. The capital balances in DEA Partnership are: D, capital P60,000; E, capital P50,000; and A, capital P40,000 and income ratios are: 5:3:2, respectively. The DEAR Partnership is formed by admitting R to the firm with cash investment of P60,000 for a 25% interest in capital. What is the amount of bonus to be credited to A, capital in admitting R? 3. Ranken purchases 50% of Lark’s capital interest in the K and L partnership for P22,000. If the capital balances of Kim and Lark are P40,000 and P30,000, respectively, Ranken’s capital balance following the purchase is