Anson Case

Part A:

Anson WU Introduction

Anson had finished his university in UTS since 2011. He held business of accounting degree and he started working as full time job when he left his school. Due to his lack of experience he found that it was very hard to get high salary. Therefor he and his friends Frank and Hanson formed a partnership business.

Frank Introduction

Frank graduated from bachelor of finance of UTS. And he has worked in a travel agency for couple years in China before he came to Australia. However, he felt quite boring and tried in regular financial job in the that company. Therefore, he knows about how to run a travel agency. Furthermore, Frank is able to manage daily operating of travel agency and also be responsible for decision making depend on his finance knowledge.

Partnership Agreement

Name of each partner

Partner 1: Frank

Partner 2: Hanson

Partner 3: Anson

Legal name of the partnership: Sky Trip

Contributions of each person will make to start the business

Contributions and partnership (Sky Trip)’s ownership:

Frank: 100000 Hanson: 80000 Anson: 50000

Profits and losses allocation

Profits and losses would be allocated by according to the Profit ratio (4:3:3) in the partnership (Sky Trip) therefor

Frank would share 40% of profits or losses

Hanson would share 30% of profits or losses

Anson would share 30% of profits