Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Management Expert

In 1999, Gauldin and Corn entered into a partnership for the purpose of raising cattle and hogs. The two men were to share equally all costs, labor, losses, and profits. The business was started on land owned initially by Corn's parents but later acquired by Corn and his wife. No rent was ever requested or paid for use of the land. Partnership funds were used to bulldoze and clear the land, to repair and build fences, and to seed and fertilize the land.

In 2003, at a cost of $2,487.50, a machine shed was built on the land. In 2005, a Cargill unit was built on the land at a cost of $8,000.

When the partnership dissolved in 2009, Gauldin paid Corn $7,500 for the ‘‘removable'' assets; however, the two had no agreement regarding the distribution of the barn and the Cargill unit. Is Gauldin entitled to one-half of the value of the two buildings? Explain.

Business Management, Management Studies

  • Category:- Business Management
  • Reference No.:- M92197180

Have any Question?


Related Questions in Business Management

What is empowerment and why do you think empowerment

What is empowerment and why do you think empowerment increases motivation?

Define the two concepts moral hazard and adverse selection

Define the two concepts "moral hazard" and "adverse selection." Describe separately how the existence of each affects the market for health insurance and medical care. What are some of the ways that insurance companies t ...

Show examples of organizations that are more focused on

Show examples of organizations that are more focused on simply bringing in money to the organization and those that are more focused on building relationships. What are the differences in how they conduct fundraising act ...

Suppose the schoof company has this book value balance

Suppose the Schoof Company has this book value balance sheet: The notes payable are to banks, and the interest rate on this debt is 10%, the same as the rate on new bank loans. These bank loans are not used for seasonal ...

Assignment appraise differentiated learningaccording to

Assignment: Appraise Differentiated Learning According to Concordia University, "differentiated instruction is a method of designing and delivering instruction to best reach each student. It may mean faculty is teaching ...

Challenge problem amp chapter 8 problem 6 parts a b and c i

Challenge problem. AMP Chapter 8 problem 6, parts a), b) and c). I would do part c) before part b). The Egserk Catering Company manages a moderate-sized luncheon cafeteria featuring prompt service, delectable cuisine, an ...

A senior marketing executive for an aerospace corporation

A senior marketing executive for an aerospace corporation is waiting in the airport lounge for his/her connecting flight. While seated, he/she spots a manila envelope, inside is a report marked "Company Proprietary" and ...

Create login form to enter user name and a password textbox

Create login form to enter user name and a password textbox to enter password, and write procedure to simulate the process of triggering the login process after hitting the Enter Key.

What involvement does management need to have to achieve

What involvement does management need to have to achieve buy-in from internal stakeholders?

When it is appropriate to use the trade-off process what

When it is appropriate to use the trade-off process. What conditions apply, and the technical evaluation criteria that might be used?

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As