1. Why is management of working capital (having sufficient current assets to cover current liabilities) especially critical for restaurants and retail businesses to maintain operations? Explain and provide examples.
2. What characteristics of a property, plant and equipment item make is different from other assets such as accounts receivables or inventory?
3. What is the difference between in how to account for land and land improvements?
4. What are some events that might lead to disposal of PPE?
5. Suppose that a company has a facility located in the area where disastrous weather conditions occur. Should it report a probable loss from a future disaster as a liability on its balance sheet? Explain.
6. Why are warranty liabilities usually recognized on the balance sheet as liabilities even when they are uncertain
7. A partner withdraws from a partnership and receives assets of great value than the book value of his equity. Should the remaining partners share the resulting reduction in their equities in the ratios of their relative capital balances or in their profit-and-loss-sharing ratio?
8. In chapter 11 opening vignette featuring Kicking Horse Coffee, Elana Rosenfield advises that partners avoid a 50/50 partnership split and she strongly suggests obtaining legal counsel in drafting partnership agreements. What are the advantages and disadvantages of a 50/50 split and what benefits can partnerships gain from obtaining legal counsel prior to forming the business?

(referances if using any)

1. Why is management of working capital (having sufficient current assets to cover current liabilities) especially critical for restaurants and retail businesses to maintain operations? Explain and provide examples. 2. What characteristics of a property, plant and equipment item make is different from other assets such as accounts receivables or inventory? 3. What is the difference between in "how to account for land and land improvements"? 4. What are some events that might lead to disposal of PPE? 5. Suppose that a company has a facility located in the area where disastrous weather conditions occur. Should it report a probable loss from a future disaster as a liability on its balance sheet? Explain. 6. Why are warranty liabilities usually recognized on the balance sheet as liabilities even when they are uncertain 7. A partner withdraws from a partnership and receives assets of great value than the book value of his equity. Should the remaining partners share the resulting reduction in their equities in the ratios of their relative capital balances or in their profit-and-loss-sharing ratio? 8. In chapter 11 opening vignette featuring Kicking Horse Coffee, Elana Rosenfield advises that partners avoid a 50/50 partnership split and she strongly suggests obtaining legal counsel in drafting partnership agreements. What are the advantages and disadvantages of a 50/50 split and what benefits can partnerships gain from obtaining legal counsel prior to forming the business