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You are planning a new business called "Snake Ride." This business will involve using boa constrictors to give children rides at County Fairs. You need about $175,000 in capital, and have found that banks will not lend you any money. Even worse, you have no money, and the most that any one person will invest is $1,000. Because of your snake expertise and general rapport with children, you insist on total management control of the business. The investors that you have contacted to date say that they will be willing to risk $1,000 and will be more than happy to let you run the business, but they insist on being able to personally write off the start up losses that your business plan anticipates for the first two years. Choose one of the business entities covered in the lecture and the text, e.g. corporation, partnership, limited partnership, LLC., defend this choice by a comparative analysis of the possible options, and set forth the documents that will have to be drafted and agreed upon to form this entity, including any important language that you will insist upon in the documents to best protect your interests.
the following selected account balances were taken from abc companys general ledger at january 1 2011and december 31
on january 1 2008 abc company borrowed 200000 from the bank. the loan is a 10-year note payable that requires
Draft a letter to Apollo Shoes that addresses the following key points; assume the role of an auditor at a local firm when composing the letter.
kiss the sky enterprises has bonds on the market making annual payments with 13 years to maturity and selling for 890.
Blue Highway Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2007,at a cost of $120,000. Over its 4-year useful life, the bus is expected to be driven 160,000 miles.
List three types of consulting services that audit firms have provided to their audit clients in recent years. For each item, indicate the specific threats, if any, that the provision of the given service can pose for an audit firm's independence.
both s corps and partnerships have rules on permissible tax years and cannot just use whatever tax year they like. what
Select a scholarly empirical journal article* in Business and craft a response that adheres to the following: Please do not use quotes or copy definitions. You must also place a reference list at the end of your work containing the textbook and the ..
graham potato company has projected sales of 14400 in september 17000 in october 24400 in november and 20400 in
Ponderosa acquired 100% control of Sumac on January 1, 2009. The purchase differential included $30,000 attributable to undervaluation of Sumac's inventory. Both Ponderosa and Sumac account for inventory using LIFO. Sumac's December 31, 2009 inven..
Wilton held land with a book value of $50,000 and fair value of $600,000. Using the parent company theory, at what amount would land be reported in a consolidated balance sheet prepared immediately after the combination?
piab enterprises has identified the following as having an impact on the companys quality costs1. inspection of
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