The Case Of The Company

The Rose Company is building a new plant to reduce cost, improve the quality of products, and maintain competitive leadership by gaining a slight production advantage. The main obstacles to be overcome are the commissioning of a new plant, new methods and process, and administrative reporting issues. As the newly hired General Plant Manager, I plan to resolve these issues by insisting that all plant communications flow through me, instituting training for plant personnel and setting operational expectations.

From year-end 2004 through the first-quarter 2008, defendant Brian Fox misled the investing public by fraudulently inflating the revenue and assets and fraudulently omitting major liabilities, of Powder River Petroleum International, Inc. (“Powder River” or the “company”) in the company’s Commission filings, and by making other false and misleading public disclosures. From year-end 2004, Powder River conveyed working interests in oil and gas leases to investors in Asia for over $43 million. Because Powder River promised full repayment of the working interest

The plaintiff (Southern Prestige Industries, Inc.) initiated an action against the defendant (Independence Plating Corp.) in a North Carolina state court for a breach of contract. The plaintiff alleged that defects in the defendant’s anodizing process caused the plaintiff’s machine parts to be rejected by Kidde Aerospace. The defendant being a New Jersey corporation and having its only office and all of its personnel situated in the state filed a motion to dismiss citing lack of personal jurisdiction. The trial court denied the motion and the defendant appealed arguing that there were insufficient contacts to satisfy the due process of law requirements

Whether certain allocations of partnership income, gain, loss, deductions, and credits have substantial economic effect and whether that has any impact on the partners’ distributive shares.

When it comes to partnerships Alex, Bill, Carl, and Devon will have two options- a general partnership or a limited partnership. Partnerships are beginning to be a business form of the past. Once upon a time, partnerships were “the default form of business and provided the benefit of pass-through taxation, but lacked the important feature of limited liability” (Chrisman, 2010, p. 465). In a general partnership, each partner associated with the entity will be held liable for their own business decisions as well as

Liability All liabilities are the responsibility of each partner. In the event of litigation, any creditors can go after the personal assets of each partner to recover any debt owed. But since liability is spread out between the owners, one may feel less risk is being taken. 2. Income Taxes General partnership may also benefit from pass-through taxation, meaning the partners are taxed like sole proprietors. Business income is reported on the personal tax filing while business losses can be deducted to reduce personal tax liability. The partnership itself is not subject to federal income tax. However the partnership needs to file an information return utilizing the IRS Form 1065. 3. Longevity or continuity of the organization Once the partnership agreement is fulfilled, the general partnership may dissolve. A buy/sell agreement may be included in the articles of the partnership to allow the

Liability- The general partner would be liable for all unlimited responsibility on all tasks and debt, while the limited partner will not loss more than their investment.

11. [LO 1] Absent any special elections, what effect does a sale of partnership interest have on the partnership?

Elizabeth Blackwell showed herself as a dedicated and diligent doctor during five years of work in Neurological Associates, and made a significant contribution to the profit margin of the partnership. The partners were delighted with hiring Blackwell in 2005 and they introduced her to medical physicians at a conference. But the referral base Blackwell went through was not the result of that investment by the partnership but instead it was the evidence of her professionalism in neurological sphere.

J. J. is a 12-year-old, independent, type 1 diabetic; diagnosed at 5-years-old. Her experience of being diagnosed was a difficult and almost fatal one. It all started when J. J. got a bad ear infection and had an accident, which was extremely abnormal for her. The doctor put her on amoxicillin, and a week later she came down with a rash. J. J.’s mother brought her the doctor, and he thought it was mono. They did a mono test and the results came back negative, however, the doctor was sure it was mono. He told J. J.’s mother to stop giving her the amoxicillin and that the symptoms would subside. They stopped taking the antibiotic, however, J. J. symptoms got worse. She was frequently thirsty, using the restroom often, sleeping a lot, and would complain of stomach pain. J. J.’s mother said, “my ex and I would ask if the doctors were going to test her blood. None of the doctors did” (personal communication, October 26th, 2016). J. J. went to 4 different doctors before she was in some much pain that she couldn’t move and was throwing up; later that day, she was diagnosed in the Ellensburg’s Emergency Room. J. J.’s mother stated, “the ER doctor walk into the room and immediately said she diabetes, and needs to go to children’s now. The doctor said she could smell the ketones on J. J.’s breath.” (personal communication, October 26th 2016). Ketones are substances that the body creates, when it breaks down fat, instead of carbohydrates for energy. Ketones make the blood

- Partner can elect to adjust the bases of partnership assets in connection with certain distributions of assets and transfers.

Kate is the owner of a successful business, selling women’s shoes. Her business is expanding fast and she wants to upgrade her business structure to a more appropriate one. What would be your recommendation to Kate and why? What are the factors that influence you with this advice?

The Wilkerson Company is in the business of manufacturing valves, pumps, and flow controllers to sell to companies that manufacture water purification equipment. The company started out with a very unique and more efficient way of designing the valves and it was better than any of the other competition that also made valves. And this actually helped them establish a loyal customer base since they were so innovative and had the best quality at the time. They are looking for help since they are having issues with the decline in their company’s profits. The company wants to figure out exactly how and why their profits are as low as they are by reaching out to their controller and manufacturing manager. They want to seek additional help and

A partnership is an agreement between minimum two known parties; also called as partners, who agree to work with mutual interest for a similar goal. In section 1 (1) of Partnership Act 1890, it states that when partners carry out a business with an intention of profit, which may be for a limited or unlimited period of time. Under the case study of Fred and Anne, we see the partnership relationship going on for years. Suddenly, when Fed who fails to get repairs done causes an injury to his tenant, Lisa. Lisa plans to raise a legal action for the work not done on time. Inspections after study confirm that the room flooring did get rotten, and that Fred was informed earlier about this. On knowing about the legal action, Fred decides to escape this liability and bring the partnership to an end. Anne blames Fred for the mistake and believes the company and that she is not

Hugo Boss has become known as an industry trend setter for its high quality men’s and women’s fashion apparel, shoes, and accessories. Product leadership, intimate knowledge of their market and customers, and operational excellence are what distinguish the company from others in the luxury fashion goods industry. From an operational perspective, the variability that exists as a result of designing and manufacturing short run fashion products is high. This perpetual shifting of demands and preferences makes it difficult to maintain accurate industry forecasts that result in high risk actions as manufacturing products with no guarantee of sale leading to large scale inventory systems.