The statement of members equity for Yellow Mountain Mines, LLC, is shown below. (a) What was the
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(a) What was the income-sharing ratio in 2010?
(b) What was the income-sharing ratio in 2011?
(c) How much cash did Randy Reed contribute to Yellow Mountain Mines, LLC, for his interest?
(d) Why do the member equity accounts of Nevada Properties, LLC, and Star Holdings, LLC, have positive entries for Randy Reeds contribution?
(e) What percentage interest of Yellow Mountain Mines did Randy Reedacquire?
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Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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