a) What was the income-sharing ratio in 20Y3? Enter the percentage per member and then select the ratio. Idaho Properties, LLC _______% Silver Streams, LLC _______ % b) What was the income-sharing ratio in 20Y4? Enter the percentage per member and then select the ratio. Idaho Properties, LLC ____________% Silver Streams, LLC ____________% Thomas Dunn ____________% c) How much cash did Thomas Dunn contribute to Bonanza, LLC, for his interest? _______
a) What was the income-sharing ratio in 20Y3? Enter the percentage per member and then select the ratio. Idaho Properties, LLC _______% Silver Streams, LLC _______ % b) What was the income-sharing ratio in 20Y4? Enter the percentage per member and then select the ratio. Idaho Properties, LLC ____________% Silver Streams, LLC ____________% Thomas Dunn ____________% c) How much cash did Thomas Dunn contribute to Bonanza, LLC, for his interest? _______
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter12: Corporations: Organization, Stock Transactions, And Dividends
Section: Chapter Questions
Problem 22E: Statement of stockholders equity The stockholders equity T accounts of I-Cards Inc. for the year...
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a) What was the income-sharing ratio in 20Y3? Enter the percentage per member and then select the ratio.
Idaho Properties, LLC | _______% |
Silver Streams, LLC | _______ % |
b) What was the income-sharing ratio in 20Y4? Enter the percentage per member and then select the ratio.
Idaho Properties, LLC | ____________% |
Silver Streams, LLC | ____________% |
Thomas Dunn | ____________% |
c) How much cash did Thomas Dunn contribute to Bonanza, LLC, for his interest? _______
d) What percentage interest of Bonanza did Thomas Dunn acquire?
![The statement of members' equity for Bonanza, LLC, follows:
Bonanza, LLC
Statement of Members' Equity
For the Years Ended December 31, 20Y3 and 20Y4
Idaho
Silver
Thomas
Properties,
Streams,
Total
Dunn,
LLC,
LLC,
Members'
Member
Member
Member
Equity
Equity
Equity
Equity
Members' equity, January 1, 20Y3
$1,041,500
$1,013,500
$2,055,000
Net income
408,000
272,000
680,000
Members' equity, December 31, 20Y3
$1,449,500
$1,285,500
$2,735,000
Dunn contribution, January 1, 20Y4
27,300
18,200
$569,500
615,000
Net income
388,000
485,000
97,000
970,000
Member withdrawals
(139,700)
(101,900)
(35,900)
(277,500)
Members' equity, December 31, 20Y4
$1,725,100
$1,686,800
$630,600
$4,042,500](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F785b7add-d082-4ae4-ae6c-04f403773bba%2Fa7e390c4-6724-4b50-8cbb-4dd8fd472092%2Fsipwip8_processed.png&w=3840&q=75)
Transcribed Image Text:The statement of members' equity for Bonanza, LLC, follows:
Bonanza, LLC
Statement of Members' Equity
For the Years Ended December 31, 20Y3 and 20Y4
Idaho
Silver
Thomas
Properties,
Streams,
Total
Dunn,
LLC,
LLC,
Members'
Member
Member
Member
Equity
Equity
Equity
Equity
Members' equity, January 1, 20Y3
$1,041,500
$1,013,500
$2,055,000
Net income
408,000
272,000
680,000
Members' equity, December 31, 20Y3
$1,449,500
$1,285,500
$2,735,000
Dunn contribution, January 1, 20Y4
27,300
18,200
$569,500
615,000
Net income
388,000
485,000
97,000
970,000
Member withdrawals
(139,700)
(101,900)
(35,900)
(277,500)
Members' equity, December 31, 20Y4
$1,725,100
$1,686,800
$630,600
$4,042,500
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