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Can a partner be expelled if so how what are the rights and liabilities of an expelled partner?
Yes. A partner can be expelled (called dissocation under the Uniform Partnership Act or Uniform Limited Partnership Act) for (1) doing something unlawful or against the best interests of the partnership; or (2) a violation of the partnership agreement. The partner continues to be liable for his or her acts or omissions that occured before dissociation, or for proximately-occuring consequences thereafter, and may have rights to a distribution of a partnership share at winding up of the partnership.
What else can I help you with?
Are decreases in liabilities recorded as debits or credits?
Debits. Liabilities have credit balances so a debit will reduce such a balance.
Is a debit required for a decrease in liabilities?
Yes. Liabilities have credit balances, so a debit will reduce a credit balance.
For the following circumstances calculate the missing figure Owners Equity 100000 Liabilities 20000 Assets?
Assets= Capital+Liabilities So Assets=? Capital=100000 Liabilities=20000 Then Assets=100000-20000= 80000/-
What does Total liabilities and equity equal on a balance sheet?
Total equity does not include total liabilities so both are not same
What is the shareholders equity if it has current assets of 2230 net fixed assets of 9900 current liabilities of 1380 and long-term debt of 4040?
Basic Accounting Equation: Assets = Liabilities + Owner's Equity Assets = Current Assets + Fixed Assets Liabilities = Current Liabilities + Long-term liabilities So Assets = Liabilities + Owner's Equity then current assets + fixed assets = current liabilities + long-term liabilities + owner's equity 2230 + 9900 = 1380 + 4040 + owner's equity 2230+9900 - 1380 - 4040 = owner's equity 6710 = owner's equity
Do banks balance sheets have current liabilities?
Do you mean: can a bank balance be a liability? If so, yes. If a bank balance is an overdraft then that balance should be shown in current liabilities.
When you subtract your liabilities from your assets what do you get?
NET WORTH! no one answered our question so I did!
Why are the assets of a business equal to the capital plus liabilities?
Basic accounting equation = assets = liabilities + capitalit is so because capital as well as other liabilities have to be paid by the business at the dissolution time of business and at dissolution time or liquidation time business must have assets equal to liabilities plus owner's equity to pay all liabilities of business without going insolvent otherwise business will become insolvant and somebody will not get all it's liabilities completely cleared at the time of liquidation of business.
Is it illegal to swear at a teacher in Kansas?
No, but you can get expelled from your school for doing so.
How do you become a partner in sims 3?
To become a business partner in the Sims 3, all you have to do is click on the place that you want to partner and click the interaction "Become Partner for $......." To become a partner costs A LOT of simoleons so make sure you have enough money to do so.
What is the partner of a lioness?
A Lioness is a female Lion, so her partner would be a Lion.
Use a sentence with the word perfidious?
he was so perfidioius he got expelled from school
