TAILIEUCHUNG - Ebook Accounting principles (12th edition): Part 2

(BQ) Part 2 book "Accounting principles" has contents: Accounting for partnerships, accounting for partnerships, accounting for partnerships, managerial accounting, job order costing, process costing, budgetary planning, budgetary control and responsibility accounting, standard costs and balanced scorecard,.and other contents. | Find more at 12 Accounting for Partnerships CHAPTER PREVIEW It is not surprising that when Cliff Chenfeld and Craig Balsam began Razor & Tie (see the Feature Story below), they decided to use the partnership form of organization. Both saw the need for hands-on control of their product and its promotion. In this chapter, we discuss reasons why businesses select the partnership form of organization. We also explain the major issues in accounting for partnerships. FEATURE STORY From Trials to the Top Ten In 1990, Cliff Chenfeld and Craig Balsam gave up the razors, In 1995, Razor & Tie broke into the contemporary music world ties, and six-figure salaries they had become accustomed to as with Living in the ’90s, the most successful record in the New York lawyers. Instead, they set up a partnership, Razor & history of the company. Featuring a number of songs that Tie Music, in Cliff’s living room. Ten years later, it became the were still hits on the radio at the time the package initially only record company in the country that had achieved success aired, Living in the ’90s was a blockbuster. It received Gold in selling music both on television and in stores. Razor & Tie’s certification in less than nine months and rewrote the rules on entertaining and effective TV commercials have yielded direct-response albums. For the first time, contemporary music unprecedented sales for multi-artist music compilations. At was available through an album offered only through the same time, its hot retail label has been behind some of the direct-response spots. most recent original, progressive releases from artists such as Norma Jean, For Today, Chelsea Grin, and Starset. In fact, Razor & Tie is now a vertically integrated business that includes a music company with major label distribution, a Razor & Tie got its start with its first TV release, Those music publishing business, a media buying company, a home Fabulous ’70s (100,000 .

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