Lone pine case study

Introduction to case • As compared to the last case discussed on Kim fuller, sole proprietorship this one is unlike and differs in terms of ownership as it contents and introduces a case study on partnership firm • The case introduces three partners • Mr. and Mrs. Henry Antoine and Mrs. Sandra Landers Sunday, September 18, 2016 2G.H.P.I.B.M 3.

The partnership paid for an operating liscence in the amount of $1,428 as well as an additional $1,400 for a cash register (itemized as equipment) in our analysis. The remaining cash attributed to the partnership was $8,672 as per the Balance Sheet dated November 2nd, 2005.

The Lone Pine Caf owed suppliers amounts totaling $1,583. Mr. Simpson estimated that depreciation on the assets amounted to $2,445. Food and beverages on hand were estimated to be worth $2,430. During the period of its operation, the partners drew salaries at agreed-upon amounts, and these payments were up to date.

Analysis for Lone Pine Cafe The Lone Pine Cafe case involves a partnership of three people who initially invested $16,000 cash each in the venture. The first transaction resulted in a one year lease being signed for $1,500 per month or $18,000 per annum. The owners occupied quarters above the Cafe.