On August 1, 20Y7, Dr. Ruth Turner established SickCo, a medical practice organized as a professional corporation. The following conversation occurred the following February between Dr. Turner and a former medical school classmate, Dr. Shonna Rees, at an American Medical Association convention in New York City.

Dr. Rees: Ruth, good to see you again. Why didn't you call when you were in Denver? We could have had dinner together.

Dr: Turner: Actually, I never made it to Denver this year. My husband and kids went up to our Vail condo twice, but I got stuck in Fort Lauderdale. I opened a new consulting practice this August and haven't had any time for myself since.

Dr. Rees: I heard about it ... Sick... something .. right?

Dr: Turner: Yes, SickCo. My husband chose the name.

Case 2-2 Cash accounting On August 1, 20Y7, Dr. Ruth Turner established SickCo, a medical practice organized as a professional corporation. The following conversation occurred the following February between Dr. Turner and a former medical school classmate, Dr. Shonna Rees, at an American Medical Association convention in New York City. Dr. Rees: Ruth, good to see you again. Why didn't you call when you were in Denver? We could have had dinner together. Dr. Turner: Actually, I never made it to Denver this year. My husband and kids went up to our Vail condo twice, but I got stuck in Fort Lauderdale. I opened a new consulting practice this August and haven't had any time for myself since. Dr. Rees: I heard about it ... Sick... something ... right? Dr. Turner: Yes, SickCo. My husband chose the name