A partnership has been defined as "an association of two or more persons who carry on as co-owners of a business for a profit."
A partnership is a legal agreement/arrangement where people, known as partners, work together and are beneficial to one another in terms of business. A fun example of a partnership is Ben & Jerry's ice-cream. Founded by Ben & Jerry they were partners in their company and created a successful business though partnership.
Answer:
The Bert Corp. and Ernie, Inc.
The profit expected is:
= $2,875.
Explanation:
a) Data and Calculations:
The Bert Corp. Ernie, Inc.
IPO order placed 1,150 shares 1,150 shares
Underpriced by $18.00
Overpriced by $6.50
Profited expected $10,350 -$7,475
Net profit = $2,875 ($10,350 - $7,475)
b) The profit expected is generated from the underpriced stock. This profit is reduced by the increased cost incurred on the over-priced stock. Therefore, the net profit is the difference between the profit and the additional cost incurred.
Answer:
First Scenario:
The furniture store should develop a system which helps keeps track for the purchases made on account. The system should keep track of invoices and payment due dates. The system should notify the team when the payment due date is near. The system should have controls for identifying duplicate payments.
Explanation:
Second Scenario:
The account payable clerk should keep track of all the invoices entered in the system. The system controls should be efficient so that there is no duplicate payment or missed payment. The system should notify the user when any duplicate invoice entering attempt is made. There should be authorization of invoices before they are entered in the system. The payment process should be segregated between 2 or more users so that there is less risk for fraud.
Flo
and
The Allstate man<span>, Dennis Haysbert</span>
External sources of finance are equity capital, preferred stock, debentures, term loans, venture capital, leasing, hire purchase, trade credit, bank overdraft, factoring etc.
