Competency 6 Communicate professionally according to the expectations of the field of accounting

DissolutionIntroductionFor this assignment, you will consider the circumstances in which a corporation may be dissolved, either voluntarily or involuntarily.By successfully completing this assignment, you will demonstrate your proficiency in the following course competencies and assignment criteria:Competency 2: Recognize the various forms, requirements, and limitations of business organizations.Explain the requirements to dissolve a corporation.Determine, under applicable statute, whether a court is correct in ordering a dissolution.Competency 6: Communicate professionally, according to the expectations of the field of accounting.Express main points, arguments, concepts, and information coherently and logically.Assignment InstructionsAnalyze Business Case 41-5, “Dissolution,” located on page 814 of your textbook. Prepare a professional-caliber brief on the case.41–5. Dissolution. Clara Mahaffey operated Mahaffey’s Auto Salvage, Inc., in Dayton, Ohio, as a sole proprietorship. In 1993, Kenneth Stumpff and Mahaffey’s son, Richard Harris, joined the firm. Stumpff ran the wrecker and bought the vehicles for salvage. Harris handled the day-to-day operations and the bookkeeping. They became the company’s equal 50 percent shareholders on Mahaffey’s death in 2002. Harris, who inherited the land on which the firm was located, increased the rent to $1,500 per month. Within two years of Mahaffey’s death, and without consulting Stumpff, Harris raised the rent to $2,500. Stumpff’s wife died, and he took a leave of absence, during which the company paid him $2,500 a month and provided health insurance. After two years, Harris stopped the payments, discontinued the health benefits, and fired Stumpff, threatening to call the police if he came on the premises. Stumpff withdrew $16,000 from the firm’s account, leaving a balance of $113. Harris offered to buy Stumpff’s interest in the business, but Stumpff refused and filed a suit in an Ohio state court against Harris. A state statute permits the dissolution of a corporation if the owners are deadlocked in its management. Should the court order the dissolution of Mahaffey’s? Why or why not? [Stumpff v. Harris, 2006 WL 2640232 (Ohio App. 2006)] (Clarkson 814)Clarkson, Kenneth W. Business Law: Text and Cases, 13th Edition. Cengage Learning, 20140101. VitalBook file.The citation provided is a guideline. Please check each citation for accuracy before use.Based on the case information provided:State the facts of the case and the key issues.Cite the code or statute provisions applicable to the case.Decide whether the court should order a dissolution of the corporation, and explain your reasoning.Express your main points, arguments, concepts, and information coherently and logically.To support your brief:Explain the requirements to dissolve a corporation, and cite relevant law.Additional RequirementsCover page: Include your name, the assignment number, and the assignment or case title.Length: 1–2 double-spaced pages, not including the cover page.Font and font size: Times New Roman, 12-point.APA formatting: Format resources and citations according to current APA guidelines.

Don't use plagiarized sources. Get Your Custom Essay on
Competency 6 Communicate professionally according to the expectations of the field of accounting
Just from $13/Page
Order Essay
Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency

Order your essay today and save 15% with the discount code ESSAYHELP