Sam Jones, Mary Adams, and Larry Brown have been talking about starting their own business for several years. Sam is an electronic repairman, Mary is a partner in a large law firm, and Larry is an excellent sales person. Sam and Larry will work in the business on an equal basis. It will cost $100,000 to start this business. Sam has no money, Mary has $60,000 and Larry has $40,000. If they form a partnership, how would you recommend that they organize?
Answer to relevant QuestionsBarry McGuire wants to purchase a dry-cleaning establishment. Barry has heard of the SWOT analysis and wants to use this methodology to determine whether he should purchase the business. He found the following information: ...Compare variable and fixed expenses. a. Construct a personal income statement for the Humperdinck family using the following information: salaries, $42,000; mortgage payment, $7,980; food, $2,400; interest income, $150; transportation, $1,200; dividend income, ...Give an example of how financial statements can be used internally by the managers of a company. Given the profit loss (income statement) and balance sheet for Sam's Sandwich Delivery (Table 4-8), answer the following: a. Calculate the following ratios: current, quick, accounts receivable turnover, fixed asset ...
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