Reference no: EM13849389
Unit 5 Discussion: Partnership Agreements
Note: Please complete your reading assignment and view the unit presentations before you participate in this discussion.
Partnership agreements can vary, depending upon what the partner contributes to the agreement. Each partner brings certain personal skills and assets into a partnership. For example, one partner could supply technical knowledge while the other partner supplies business knowledge or perhaps the financing for the partnership. When there are two parties involved, the partnership agreement would easily be split 50/50.
However, when there are multiple partners involved, the partnership becomes more complicated. Perhaps one partner supplies time to run the business, another partner supplies talent, and the third partner supplies physical assets, and yet another partner supplies financing. The partnership agreement obviously becomes more difficult to structure.
As you have learned in this unit, there are different methods used to allocate income among the partners. Income can be allocated based on stated ratios, services, and capital. Some partners do not provide any services but provide capital such as cash or equipment to the partnership. This is why it's so important to choose a business form that bests covers the needs and wants of everyone in involved.
Discussion Questions
Imagine you are forming a partnership with two other partners. All three of you have cash to invest in the business as well as skills to contribute. Two of your partners will provide services, along with investing cash.
- Are there any details you think should be included in the partnership agreement? What disadvantages should you be aware of when forming a partnership?
- How will you allocate income or loss? Will you also include a salary allowance for the partners who contribute services?
- Allocation of partnership income among the partners appears on what financial statement?
- How will you handle the admission of the new partner if he or she purchases an interest in the partnership?
Prepare a nursing webliography
: Prepare a NURSING WEBLIOGRAPHY. This exercise develop a brief annotated webliography
|
Excel problem
: Peg Henderson is an assistant dean at the College of Business Administration (CBA). She uses Excel daily for a variety of tasks, including tracking student internships and alumni. For this project, Peg wants you to create an Excel table from infor..
|
A teacher using a thematic-unit approach
: A teacher using a thematic-unit approach
|
Amount of reduction in morbidity
: For the program with demonstrated positive results, summarize the program and provide data demonstrating the amount of reduction in morbidity and/or mortality
|
Discussion regarding the partnership agreements
: Partnership agreements can vary, depending upon what the partner contributes to the agreement. Each partner brings certain personal skills and assets into a partnership.
|
Prepare adjusted trial balance for gordon construction
: Prepare adjusted trial balance for Gordon Construction at June 30, 20xx.
|
Major organizational parts of the authority
: What are the major organizational parts of the authority (placed in bold)? Compare your answer in (a) to the major organizational parts of an IFRIC or SIC. Are (a) and (b) for the most part, the same? If yes, how so? If not, how do they differ?
|
What is the most common form of online communication
: What is the most common form of online communication today? Why does Ubell state it may not be the most effective for collaboration? Do you agree
|
Determine product capabilities
: Search the Web to find information on biometric devices - Create a table, grouping devices into categories, such as fingerprint readers, eye readers, etc.
|