Ace, Bob, Cat, and Dan, have all come together to start a new business venture. This...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Ace, Bob, Cat, and Dan, have all come together to start a new business venture. This happened when Bob, restaurant experience approached Ace, Cat, and Dan to get their interest in investing into a new restaurant customers in plastic bags, called Baggers! They all invest! The Baggers, Inc. is comprised of 80,000 shares. Ace trusts Bob and invests $20,000 Bob invests $10,000 Cat invests $20,000 Dan invests $20,000 They agree to be equal owners. Some questions to address regarding this venture: 1. If this were to be formed as a Corporation, what document would you file to form the corporation? 2. where would you file this document to form the corporation? With the State? Federal? City? or County? 3. What are Ace, Bob, Dan, and Cat properly referred to based upon their investment into the corporation? 4. How many shares would each investor receive in this structure as outlined? 5. What internal document would you refer to on the rules and policies of the corporation? Ace, Bob, Cat, and Dan, have all come together to start a new business venture. This happened when Bob, restaurant experience approached Ace, Cat, and Dan to get their interest in investing into a new restaurant customers in plastic bags, called Baggers! They all invest! The Baggers, Inc. is comprised of 80,000 shares. Ace trusts Bob and invests $20,000 Bob invests $10,000 Cat invests $20,000 Dan invests $20,000 They agree to be equal owners. Some questions to address regarding this venture: 1. If this were to be formed as a Corporation, what document would you file to form the corporation? 2. where would you file this document to form the corporation? With the State? Federal? City? or County? 3. What are Ace, Bob, Dan, and Cat properly referred to based upon their investment into the corporation? 4. How many shares would each investor receive in this structure as outlined? 5. What internal document would you refer to on the rules and policies of the corporation?
Expert Answer:
Answer rating: 100% (QA)
1 If this were to be formed as a Corporation what document would you file to form the corporation To ... View the full answer
Related Book For
Principles Of Taxation For Business And Investment Planning 2016 Edition
ISBN: 9781259549250
19th Edition
Authors: Sally Jones, Shelley Rhoades Catanach
Posted Date:
Students also viewed these accounting questions
-
You are getting ready to start a new project that will incur some cleanup and shutdown costs when it is completed. The project costs $5.4 million upfront and is expected to generate $1.1 million per...
-
Agatha is planning to start a new business venture and must decide whether to operate as a sole proprietorship or incorporate. She projects that the business will generate annual cash flow and...
-
Agatha is planning to start a new business venture and must decide whether to operate as a sole proprietorship or incorporate. She projects that the business will generate annual cash flow and...
-
(A) If the percent yield for the formation of urea in Example 4-13 were 87.5%, what mass of CO 2 , together with an excess of NH 3 would have to be used to obtain 50.0 g CO(NH 2 ) 2 ? (B) Calculate...
-
Rebecca is the owner of Sunnybrook Farm. On January 1, 2004, the beginning of the companys fiscal year, Rebecca borrowed $750,000 at 10% annual interest to purchase equipment. The loan is to be...
-
Lily graduated from UCSD in 2015. Right now she has an excellent job with a take-home income (after taxes) of $5,000 a month. The following is her financial situation: 1. She is single and shares an...
-
A large trapezoidal channel cut through stone has side slopes of 1:1 and a bed width of \(291 \mathrm{ft}\). Find the uniform flow in the channel when the flow depth is \(30.4 \mathrm{ft}\) and the...
-
The Ad Guys Inc. provides advertising services for clients across the nation. The Ad Guys is presently working on four projects, each for a different client. The Ad Guys accumulates costs for each...
-
Discuss the role of thermal radiation in heat transfer at high temperatures. How do factors like emissivity, absorptivity, and view factors influence radiative heat transfer in complex geometries ?
-
Develop a spreadsheet for computing the demand for any values of the input variables in the linear demand and nonlinear demand prediction models in Examples 1.7 and 1.8 in the chapter.
-
A Jar contains a mixture of Milk and Water 18 and 12 Liters respectively. When 'x' liter of the mixture is taken out and replaced with the same quantity of Water, then the ratio of Milk and Water...
-
Java programming. Solve all Questions Appropriately. (a) Java's Reference Objects furnish a way to collaborate with the runtime garbage man. (I) Provide a Java class carrying out a Leaky Array: a...
-
Anthropologists have identified four Indian tribes in Montana, Big Goose, Little Bear, Crazy Horse, and Buffalo. Arrowheads from each tribe differed in size. Below is data on the size of arrowheads...
-
5. Three identical wheels all have four 1 kg masses attached to their spokes. Each wheel has the four masses attached at different positions as shown in the diagram. Equal lengths of string are...
-
Please complete the rest of the operating budget analysis for CHEWY INC (CHWY via New York Stock Exchange) using your own scholarly source. I included the excel link to the financial statements from...
-
4. When using ftp, each character, ch, that is typed on the remote machine is copied and sent to display on the local machine. Assume only alphabetic characters (standard ASCII format) are being...
-
Consider the payoff matrix below representing two firms engaged in Bertrand Competition. Firm A is player 1 (chooses the row) and Firm B is player 2 (chooses the column). High price Low price High...
-
You are standing on the top of a building and throw a ball vertically upward. After 2 seconds, the ball passes you on the way down, and 2 seconds after that, it hits the ground below. a. What is the...
-
Barry and Lynette Majors own 36 percent of the outstanding stock of Echo Valley, which has approximately $5 million earnings and profits. Echo Valley owns 38 tracts of undeveloped land in central...
-
Trent Inc. needs an additional worker on a multiyear project. It could hire an employee for a $65,000 annual salary. Alternatively, it could engage an independent contractor for a $72,000 annual fee....
-
Mr. Garza earned an $85,000 salary and recognized a $12,000 loss on a security sale and a $14,000 gain on the sale of a limited partnership interest. His share of the partnerships business income...
-
Suppose the output price falls from \($5\) to \($4\) to \($3\) to \($1\) in exercise 2. How would that change your answers to exercises 2 and 3? Data from in exercise 2 Using the information in the...
-
Using the data in exercise 2, calculate the marginal factor cost. Data from in exercise 2 Using the information in the following table, calculate the marginal revenue product (MRP = MPP MR). Unit of...
-
Suppose the resource price rises from \($10\) to \($12\) to \($14\) to \($18\) to \($20\) as resource units go from 1 to 5. How would that change your answer to exercise 5? How would it change your...
Study smarter with the SolutionInn App