Question

Kenisha and Shawna form the equal KS LLC, with a cash contribution of $522,000 from Kenisha and a property contribution (adjusted basis of $548,100, fair market value of $522,000) from Shawna.

Answer 1

Kenisha and Shawna are forming an LLC with cash and property contributions.

Step-by-step explanation:

The subject of this question is Business and it is suitable for College level.

In this question, Kenisha and Shawna form the equal KS LLC, with a cash contribution of 522,000 from Kenisha and a property contribution (adjusted basis of 548,100, fair market value of 522,000) from Shawna.

By contributing cash and property, Kenisha and Shawna are establishing their initial ownership in the LLC and their respective contributions determine their ownership interests.