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- A partnership agreement should include all of the following EXCEPT: (A) An indication of each partner's percentage of profits or losses. (B) The amount of cash or property which has been contributed by each of the partners. (C) How reimbursements for out-of-pocket expenses will be handled. (D) The amount of each partner's salary that they will receive each year.Calculate the annuity payment for a loan of $850,000 loan and interest rate at 10%,John and Jay are fellow graduates in counseling psychology at Yorkville University. After having worked on various projects together during their time at Yorkville University, they discovered they actually lived in the same community, met one another, and soon found they enjoyed each other’s company and found synergies in their work habits. They now plan on renting some space and opening a clinic together on the cool side of town. John’s parents have agreed to provide a five-year interest free loan of $20,000 to assist with start-up costs. Jay’s dad, a carpenter by trade, has agreed to help with renovating the shop. How might the business be structured so as best to ensure both Jay and John’s interests are fully protected? How might the loan be structured?
- rahulA fairly reliable forecast now has been obtained indicating that the company would be able to sell 300 of the limited-edition grandfather clocks, which appears to be enough to justify introducing this new product. However, Meredith is concerned that this conclusion might change if more accurate estimates were available for the various costs and revenues. Therefore, she wants what-if analysis done on these estimates. Perform what-if analysis by independently investigating each of the following questions.In 2021, Joshua gave $9,300 worth of XYZ stock to his son. In 2022, the XYZ shares are worth $30,300. What was the gift tax in 2021?
- If you are to apply for a job position, what would it be and why? ExplainYou are looking for some investors for your new project, and there is an excellent chance to present your ideas. You heard that a world-renowned businessman – Mr. Smith from Great Britain in Europe – is going to visit your city. He is known for his rich investments all over the world. Therefore, you decide to meet him and check whether he could also be your investor. Your assistant arranges an appointment. Mr. Smith agrees to meet you and informs you that he will be accompanied by a person who knows well the topic you want to talk about – Professor Jones. You are about to organize this business meeting at your office. You know Mr. Smith will come together with Professor Jones, so you decide to ask one of your most experienced employees to join the meeting and share some advice. And you also have this new guy in your company, he works here only for a month now, but he looks like he knows what he's doing. You might also need his opinion during this meeting. And your assistant – no one…At the turn of this century, a rather well-off (financially secure) husband and wife team decided to purchase a dilapidated shell of a building in the city of Norwich in the UK. The defunct General Post Office construction site was deemed ideal for a high-class luxury hotel. The main investors for the initiative were family members who ultimately financed the project to the tune of several millions. During the refurbishment, the couple had to persuade family benefactors to reinvest significant extra sums in order for the hotel to open.During the course of the broadcast’s viewers witnessed the highs but mainly lows of the conversion process up until the grand opening of the hotel. During early stage-setting broadcasts, interviewers were keen to know about the impetus for the idea and how data was obtained about the primary market segment for the St. Giles. The couple indicated that owning and running a hotel had always been a dream and they felt that the time was right to embark on…
- Mark and Matt co-own an auto repair shop 50/50. They each schedule their own customers, use their own tools and supplies, and collect payments from their customers. They each pay half of the utilities and the property taxes. (A) Mark and Matt are a partnership because they co-own the business and both work at the location. (B) Mark and Matt are co-owners of the property but run their businesses independent of each other. They split certain building expenses. They are not a partnership. (C) Mark and Matt are a partnership and must file a Form 1065. (D) Mark and Matt must file as a partnership and set up a formal agreement because they split the cost of the utilities and property taxes.If you were to add a capital investment of $500,000 and a loan amount for $250,000. Can you provide the statements including those?A Delaware LLC wanted to acquire a 300,000 square foot class “A” office building in Philadelphia for $150 per square foot that was 77% leased. Wells Fargo agreed to fund a purchase money mortgage loan with a maximum LTV of 60%. What is the minimum amount of equity that would be needed to close the acquisition? a. $45,000,000 b. $9,000,000 c. $18,000,000 d. $27,000,000
