Philip and Deborah form an LLC (limited liability company). Philip contributes $50,000 capital, and Deborah contributes $75,000 capital. They do not have an agreement as to how profits are to be shared
If the LLC makes a $100,000 profit in its first year, how will the profit be divided among the members?
A) Philip gets $30,000, and Deborah gets $70,000.
B) Philip gets $50,000, and Deborah gets $50,000.
C) Philip gets $25,000, and Deborah gets $75,000.
D) Philip gets $35,000, and Deborah gets $65,000.
B
Business
You might also like to view...
What is an x% filter rule?
What will be an ideal response?
Business
Louis purchased $5,000 worth of stock three years ago and sold it today for $7,000. He received no dividends from this investment. Inflation averaged 4% during the three years he owned the stock
What was his annualized real rate of return on this investment? A) 4% B) 9.33% C) 13.33% D) 36% E) 40%
Business