You Decide Week 5

Good Essays
We are Chris and Pat Smith, and we are entrepreneurs with five years of experience and we like to invest in small businesses. We decided to invest in this catering company with the two chefs J.P. Martin and L.L. Miller, who have culinary science degrees and five years of work experience, which includes winning a prestigious prize in a gourmet food competition. So we all decided to set up a catering service called “At Your Service”. This catering service was set up to provide services for wedding, parties and other sociable function that would take place around the surrounding areas. Unfortunately the business did not generate the expected profits therefore we are in the process of dissolving the business.
How will we split the $15,000 left in the investment?
Well developing a contracted agreement, there was no agreement set forward in which an exit strategy needed to be planned. Which we failed to do so, and should have been planned a head of time. As far capital distribution goes, at the beginning of the partnership, we put $25000 and the chefs put $10,000 plus $10,000 adding up to $45,000 for 100% of the shares. Each share is worth $450; therefore we own 55.5% of the company while chefs own $45.5%.
Now we have $15,000 left to be split. If we split this capital according to the ownership percentage, we should receive $8,325 and the chefs should receive $6,675. But we do not think the chefs deserve this as they caused the business to fail. Also we will need capital for our new venture, in which we are looking forward in investing in, therefore we should only give them $3,000 and keep the $12,000. In order to get them agree on this distribution, we should use the kitchen equipment as a negotiation factor. We can not utilize the kitchen equipment in our flower shop, but it is essential for the chefs.
How to handle the lease on the kitchen space, which has 18 months more to run?
As far as the kitchen space, we will need that space to rent space for our flower

You May Also Find These Documents Helpful

  • Good Essays

    Week 5 you decide

    • 928 Words
    • 4 Pages

    Week 5 You Decide Security is an ever moving target that must be continually managed and refined to ensure appropriate confidentiality, integrity, and availability of services and systems that are critical to business, as well as the valuable data. Waves of targeted email attacks, often called phishing, are exploiting client side vulnerabilities in commonly used programs such as Adobe PDF Quick Time, Adobe Flash, and Microsoft Office. This is currently the primary initial…

    • 928 Words
    • 4 Pages
    Good Essays
  • Good Essays

    week 5 You Decide

    • 816 Words
    • 3 Pages

    HRM 330: Labor Relations Week 5 Assignment Professor Melanie Morris October 2, 2014 Case Facts Carol Fern has been employed by Bainbridge Borough for 18 years as a tax clerk. The tax clerk position is part of the bargaining unit represented by Local 10 of the American Federation of State, County, and Municipal Employees (AFSCME). When Carol and her husband found out that she was unable to conceive, they decided to adopt a child.…

    • 816 Words
    • 3 Pages
    Good Essays
  • Good Essays

    You Decide Week 5

    • 1238 Words
    • 5 Pages

    Questions: Q1: Discuss how the SEC has influence (if any) over the audit of Smackey Dog Foods, Inc. Solution: The SEC’s influence in Smackey Dog Foods, Inc. can be observed in the audit standards that are being upheld. More specifically, the SEC developed auditor standards that must be followed. In the case of Smackey, we can see that the implementation of SOX has mandated that auditors be independent entities for publically held companies. Privately held companies are subject to these…

    • 1238 Words
    • 5 Pages
    Good Essays
  • Good Essays

    You Decide week 5

    • 831 Words
    • 3 Pages

    You Decide Professor: To: Kim Brown, Branch Manager CC: Ken Rogers, Corporate Manager From Subject: Access Control Lists Date: 10/06/2013 Good day MS Kim, I would like to explain the available options of Access Control Lists what will do and what types of ACLs there are. Complex ACLs can be tricky but will better for security for the network. There are three different types of ACLs, Dynamic ACL, Reflexive ACL, and Time Based ACL. Each ACL is unique to the type of network we have…

    • 831 Words
    • 3 Pages
    Good Essays
  • Good Essays

    You Decide, Week 5

    • 777 Words
    • 3 Pages

    YOU DECIDE Mgmt. 597: Business Law CASE SUMMERY: Coleman is an employee for Software Inc.; Coleman was a member of the sales division that sold security equipment to businesses and bars. Coleman is traveling the majority for the time; he often spends three months in a row on the road. While on a sales trip to Colorado, in March of 2008, Coleman stole a ring for his wife. Then, Coleman met John at Jimmy’s Poor-Man Bar. While…

    • 777 Words
    • 3 Pages
    Good Essays
  • Good Essays

    You Decide Week 5

    • 537 Words
    • 3 Pages

    needs training on how to handle customers. Our entire staff will have to undergo training on how to handle irate customers. We have to understand that a customer is not upset at you personally they are upset at the situation and you represent the company. The training will cover how to avoid letting the customer get to you and how to hone certain listening skills. We will be…

    • 537 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    You Decide (Week 5 Assignment) Prof…. June 2015 TABLE Location 11360 Newington Ave, Spring Hill, FL 34609 12754 Seronera Valley Ct, Spring Hill, FL 34610 Square Footage 3,498 3,983 Lot Size 1 Acre .4 Acre Total Price $489,750 $489,000 Price per square foot $140 $123 Year Built 2008 2014 Style Single Family Home Single Family Home Stories 2 2 Beds 5 4 Bathroom 3 Full, 1 Half Bath 4 Full, 1 Half Bath Garages 4 car garage 3 Pool No No Basement No / slab foundation No / Slab foundation…

    • 1714 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    Socs315 Week 5 You Decide

    • 1100 Words
    • 5 Pages

    The Disagreement: Lenora and Joshua When you are in a relationship, arguments or disagreements can arise. They can often trigger strong emotions that lead to hurtful words and uneasiness. If these conflicts are not resolved in a healthy way, resentment and a dissolved relationship could follow. However, when they are resolved in a proper manner, it could promote growth between the couple and fortify the bonds of their relationship (Conflict Resolution Skills). In the case between Lenora and…

    • 1100 Words
    • 5 Pages
    Good Essays
  • Good Essays

    HSM 542 Week 5 You Decide

    • 741 Words
    • 3 Pages

    For the past six months, Lydia, who is paralyzed from a car accident and can only communicate through nodding her head, has been receiving life sustaining support from the staff at Little Falls Hospital. It is uncertain if Lydia is able to understand any information about her current situation and is able to make any decisions for herself. Lydia prepared an advance directive before the accident, but the advance directive cannot be located. There are two laws that can be taken into account for…

    • 741 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Week 6 You Decide

    • 1981 Words
    • 6 Pages

    business entity for any individual(s) will depend on their particular facts and circumstances. You are a valued colleague and friend of this threesome, and they have come to you seeking advice as to how to structure their new business. They have the knowledge to figure it out themselves but are looking for the advice of an unbiased third party. Please consider the following tax and nontax considerations as you recommend an entity choice to Penelope, Mark, and John. Part I: Discuss the various forms…

    • 1981 Words
    • 6 Pages
    Powerful Essays