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Student Name: Problem 19-01A GENERAL JOURNAL Page: Date Description Post Ref. COMTEMPORARY COMPUTING Balance Sheet January 1, 2013 Assets Cash...

Please discuss and explore the following topics:

Does the partnership really have to reconstitute itself legally, and, if so, would it be wise to do so without a formal agreement? Explain and support your response.
What key terms would you as a prospective partner require in a partnership agreement?
Please discuss and explore the following topics:

Discuss the similarities and differences between common stock and preferred stock. Which type of stock would you prefer to own? Why?
When and why do corporations issue common and preferred stock?
Corporations are a legal entity chartered and authorized to do business, usually in the state the corporation is domiciled.

In your Team Discussion area, talk with your team members and decide on a team leader. The team leader will consolidate team input and upload it to the team's Doc Sharing folder by the end of week 8.


As a team, decide on a business proposition and from an agreed-upon state. Acquire (state URL/probably the Secretary of State) the appropriate organizational document templates.


In your discussion area, work through the requirements of the state for forming a corporation by completing those documents.


The team leader will compile the following documents:
The articles of incorporation and corporate bylaws.
The transactions to record the subscription and sale of stock for your newly-formed corporation.

Student Name: Problem 19-01A Page: Date Description Post Ref. Debit Credit COMTEMPORARY COMPUTING Balance Sheet January 1, 2013 Assets Cash Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Furniture and Equipment Total Assets Liabilities Accounts Payable Partners' Equity Stan Otis, Captial Reginald Pittman, Captial Total Partners' Equity Total Liability and Partners' Equity Analyze: GENERAL JOURNAL
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Student Name: Problem 19-02A Page: Date Description Post Ref. Debit Credit Bryant and Willis Angler's Outpost Balance Sheet January 1, 2014 Assets Cash Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Furniture and Equipment Total Assets LIABILITIES Accounts Payable PARTNERS' EQUITY James Bryant, Capital Camille Willis, Capital Total Partners' Equity Total Liabilities and Partners' Equity Analyze: GENERAL JOURNAL
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