Joel is a limited partner in the Snow Bird Limited Partnership. He invested $5,000 to buy his interest. Joel is one of 10 partners, two of whom are general partners. Snow Bird is now insolvent, with debts exceeding assets by $96,000. The partnership creditors sue all the partners for these debts. How much additional money must Joel contribute?

R& m chatelaine is one of the largest tax-preparation firms in the united states. it wants to acquire the tax experts, a smaller rival. after the merger, chatelaine will be one of the two largest income-tax preparers in the u.s. market. what should chatelaine include in its acquisition plans? it should refocus its attention from the national to the international market. in addition to acquiring the tax experts, it should also determine the best way to drive independent "mom and pop" tax preparers out of business. chatelaine will need to explain to the federal trade commission how the acquisition will not result in an increase in prices for consumers. chatelaine should enter a price-based competition with its other major competitor to force it out of business and become a monopoly.