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Accounting | Accounting homework help

Assume that Burgundy, Inc.’s annual guaranteed payment is increased to $120,000 starting on January 1, 2016, and the LLC’s taxable income for 2015 and 2016 (after deducting Burgundy’s guaranteed payment) is the same (i.e., $80,000 and $90,000, respectively). What is the amount of income from the LLC that Burgundy, Inc., must report for its tax year ending April 30, 2016?

Olga Conrad, a financial writer, noted recently, ?There are substantial arguments for including earnings projections in annual reports and the like. The most compelling is that it would give anyone interested something now available to only a relatively select few?like large stockholders, creditors, and attentive bartenders.? Identify some arguments against providing earnings projections.


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