Question: Develop a hypothetical business you would consider starting with a friend or relative. Imagine that the friend or relative has sufficient funds to start the

Develop a hypothetical business you would consider starting with a friend or relative. Imagine that the friend or relative has sufficient funds to start the business and that you will be doing most of the work (for example, if you were starting a mobile car wash business, you would be procuring the customers and washing the cars). Imagine also that you will be performing all the bookkeeping functions for the business.

Write a completed partnership agreement, including the following elements ready for signatures using the partnership agreement included.

1. Name and Business:

2. Term

3. Capital:

4. Profit and Loss:

5. Salaries and Withdrawals:

6. Interest

7. Management Duties and Restrictions:

8. Banking:

9. Books:

10. Arbitration

Step by Step Solution

★★★★★

3.57 Rating (150 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

The question is incomplete because it asks for a partnership ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Law Questions!

A car wash services 200 customers in a 4-hour span on a lovely Saturday afternoon. The car wash employs 5 washers at $6 per hour. An appropriate measure of productivity is: a). 200 cars/hour b). 0.6...

A full-service car wash has an automated exterior conveyor car wash system that does the initial cleaning in a few minutes .However, once the car is through the system, car wash workers hand clean...

Below is a partial balance sheet of WOU Berhad The company declared a 2 for 1 stock split. i) Calculate the new par value. ii) Calculate the new numbers of share outstanding. Common stock (RM 2)...

Needing ANSWERS ASAP! Starting at pg 34 - Labeled Graded Project 06155200: Graded Project Instructions & Worksheets 1 Lesson 1: Business, Accounting, and You PROJECT GOAL The goal of this graded...

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

Im having trouble with question 3 part A of the attached file. I know and understand her needs but im not sure if im filling out the table correctly ? Assignment Tier 1 Financial Planning...

Prepare a Statement of Advice (SOA) for the Martins interviewed for Assignment 1. The case study information is attached as a picture at the bottom of the page. As this assignment is to be a SOA for...

i need help from section 3 part A I have already posted this and you asked me to post under advanced option Assignment Tier 1 Financial Planning (Tier1FPPA_AS_v1A3) Page 2 of 92 Student...

Due to the changing environment and external triggers, contingency planning is necessary. What qualities make a future issue a ?trigger?? Consider you are on the strategic planning team for a soft...

Income Statement of an interior design firm, Grand Designs, that makes money by selling hours (fees) and by selling furniture or other items (Sale of Goods). 1) Using the formula for Profit Margin,...

A small software company will bid on a major contract. It anticipates a profit of $50,000 if it gets it, but thinks there is only a 30% chance of that happening. a) Whats the expected profit? b) Find...

Write function defined as: def function(fcn, x0, x1, maxiter-10, xtol-1e-5): that use the fsolve to find the root of the callback fcn(x), in the neighborhood of x0 and x1. fcn: the callback function...

Changes and functions that occur after young adulthood are called

The board of directors at Freeman-Brown Private School (FBPS) has hired you as part of a consulting team to review the situation and present your findings and recommendations. Write a paper...

David Andrews works at the Neal Company where he makes $10 per hour with "time-and-a-half" for overtime. For the week ended January 8, David worked 45 hours as follows: Job 417.34 hours Job 532.11...

A 1. CH,COCI, AICI, 2. NH,NH, cat. H 3. , ,. 90

Describe the features of structured and inclusive meetings by answering the following. (approx. 100 words). What are 5 things you would include in a meeting agenda?

How do accounting standards, such as the Australian Accounting Standards, impact the preparation of financial reports in your role

Since the early 1990s, woodstove sales have declined from 1,200,000 units per year to approximately 100,000 units per year. The decline has occurred because of (1) stringent new federal EPA...

The requirements are in world file. The pdf file includes the case. Only one-page write. Answer following questions and write one page (double space) What are the challenges of exiting private equity...

Lindsay Kay approached her friend Michael Wait about going into business together as co owners of a gardening centre. Lindsay loved gardening and had some skills as an accountant. Michael was a...

Question One Develop a digital and social marketing communications plan using communications channels for your hypothetical business. Question Two Is social media right for your hypothetical...

Instructions for QBO Project (Note: QBO changes their system interface frequently; thus, I will provide revised instructions if needed.) Assignment Overview You need to develop an accounting system...

Please write clearly and concisely. Thank you 1. Point 2.2.1 of the Code addresses environmental sustainability. Provide an example of how a project designer & manager may uphold this standard in the...