Question
In: Economics
Mr. Robin Chowdhury is the sole owner of a firm. He brings in Mr. Nurul Huq...
Mr. Robin Chowdhury is the sole owner of a firm. He brings in Mr. Nurul Huq as a partner on the following terms: a. Mr. Huq is not to bring any capital. b. Mr. Huq is not to be responsible for any loss. c. Mr. Huq is to receive TK 2000 every month in lieu of profit and d. Mr. Huq is to have all the powers of a partner. Discuss the legal position of Mr. Huq in the Firm. (Note: Write your answers in 200-250 words or higher.)
Solutions
Rahul Sunny answered 1 year agoRelated Solutions
Mr. Macho. He is sitting at the bar with his friends. He is the sole surviving...
Mr. Macho. He is sitting at the bar with his friends. He is the
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gym six days per week. He takes laxatives daily to keep his body
weight down so he can maintain the same physique he had in high
school. He's trying to impress his friends by eating 12 jalapeno
peppers stuffed with cheese...
Mr. Macho. He is sitting at the bar with his friends. He is the sole surviving...
Mr. Macho. He is sitting at the bar with his friends. He
is the sole surviving bachelor of his over 30 group of friends. He
still lives in his parent’s house, is 31 years old, and exercises
at the gym six days per week. He takes laxatives daily to keep his
body weight down so he can maintain the same physique he had in
high school. He's trying to impress his friends by eating 12
jalapeno peppers stuffed with cheese...
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Mr Novak Murray is the sole owner of Roger & Rafa, a store
that offers tennis racquet stringing service (that involves the use
of strings and labour). The unadjusted trial balance of Roger &
Raga as at 30 June 2018 is shown below. The annual reporting period
for the business ends 30 June.
Roger & Rafa Unadjusted Trial Balance as at 30 June 2018
Account
Debit
Credit
Cash at Bank
$18 000
Accounts Receivable
3 200
String Supplies
5 840...
Kip Bowman is owner and sole employee of KB Corporation. He pays himself a salary of...
Kip Bowman is owner and sole employee of KB Corporation. He pays
himself a salary of $1,500 each week.
Additional tax information
includes:
FICA tax—OASDI
6.2% on first $132,900
FICA tax—HI
1.45% on total pay
Federal income tax
$232.00 per pay
State income tax
22% of the federal income tax withholding
Federal unemployment tax
0.6% on first $7,000
State unemployment tax
0.05% on first $14,000
Additional payroll deductions
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Child support garnishment
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On 1 October 20X9, the owner of the USS Enterprise, Mr Kirk, decided that he will...
On 1 October 20X9, the owner of the USS Enterprise, Mr
Kirk, decided that he will boldly go and keep his records on a
double entry system. His assets and liabilities at that date
were:
£
Fixtures and equipment
20,000
Stock including weapons
15,000
Balance at Universe Bank
17,500
Cash
375
Creditors – Spock
3,175
– Scott
200
– McCoy
500
Kirk’s transactions during October were as
follows:
1. Sold
faculty phasers, original cost...
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James J. Dewars has been the sole owner of a small CPA firm for
the past 20 years. Now 52 years old, Dewars is concerned about the
continuation of his practice after he retires. He would like to
begin taking more time off now although he wants to remain active
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Question: Peter is the sole owner of a T-Shirt Shop. He has provided you with the following...
Question:
Peter is the sole owner of a T-Shirt Shop. He
has provided you with the following information in
relation to the 2018 budget:-
Estimated sales units for the
year 40,000
Selling price per
unit $30
Estimated total
sales $1,200,000
Based on the above sales units and dollars, the
following expenses are expected to be incurred
annually:-
Cost of Goods Sold (@ $12 per
unit) $480,000
Rent of Premises (75% Shop, 25%
Office) $44,040
Salaries – Sales
Staff $168,000
Salaries – Office
Staff $80,400
Delivery Expenses (@$1.25 per...
Sean Morgan is the owner of a local CPA firm with four separate offices. He and...
Sean Morgan is the owner of a local CPA firm with four separate
offices. He and his wife started the firm over 20 years ago, and
have over 50 full-time employees. Recently, he discovered that one
of his employees had stolen $20,000 from the business during the
past six months because of lax internal control. Sean was furious
about the situation, but was uncertain about whether he should
initiate a criminal investigation of just fire the employee. List:
1. Three...
9. If a fishing boat owner brings 10,000 fish to market and the market price is...
9. If a fishing boat owner brings 10,000 fish to market and the
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revenue. If the average variable cost of 10,000 fish is $4 and the
fixed cost of the boat is $20,000, what is her profit?
a. $1.
b. $3.
c. $1,000.
d. $3,000.
e. $10,000.
10. A firm is currently operating where the MC of the last unit
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1. Ms. Douglas, owner of a small advertising firm, wants to borrow $15,000 from Mr. Caster,...
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agent. Ms. Douglas wants to buy a laser printer and a computer
program for desktop publishing which will make her firm more
productive. Ms. Douglas has monthly billings of $4,000, owns two
computers and a car but rents her office and other equipment. Her
husband, Frank, is an accountant employed by another company and
does not work for the...
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