ashACC 407 Week 1 DQ 2 Partnership

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• ACC 407 Week 1 DQ 2 Partnership Liquidation Case
  C16-6
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• a. Describe the formation of the partnership,
  including the date of formation and the purpose
  for the limited partnership.
• b. Who was the initial general partner? What was
  the general partners initial percentage interest
  in the partnership? And who was the general
  partner as of December 31, 2003?
• c. What was the general partners profit
  percentage? What economic reasons might the
  general partner have had for investing in this
  partnership?
• d. What were the major elements of the
  Restructuring Plan approved in 2001 by the
  limited partners?
• e. What were the major elements of the Plan of
  Liquidation that was initiated in 2003?
• f. The partnership adopted the liquidation basis
  of accounting beginning on September 30, 2003.
  Briefly describe the liquidation basis of
  accounting the partnership used.
• g. Compare the partnerships financial statements
  before and after the September 30, 2003 adoption
  of the liquidation basis of accounting.h. The
  partnership filed a form 15-12G on May 1, 2006.
  Obtain this filing. What is the purpose of this
  form that is required by the SEC?
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