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1 Chemalite Inc

Chemalite Inc

Harvard Business Publishing

Ramaiah Institute Of Management Studies

2 Chemalite Inc

Abstract Alexander Bennett a chemical engineer received a patent for one of his inventions called a chemalite. It produced a glow when the chemicals inside the cylindrical tube were mixed. Alexander assumed that this product is of great potential in some of the industries such as in the manufacturing sector, armed forces etc. Alexander not being more of a businessman established Chemalite Inc with the help of his family and friends. Realizing the potential of the product Alexander decided to actively participate in the management of Chemalite Inc and decided to interact with the shareholders regarding the current position of Chemalite Inc, during which he decided that there should be a right way of managing and showing the necessary activities of Chemalite Inc. Bill Murray was appointed as a bookkeeper to maintain all the transactions in Chemalite Inc. By doing so Alexander noticed that now the company`s bank balance had come down from $230000 to $113000. In spite of knowing that the company was not in a bad shape after reviewing the cash outflows, he was not able to convey this to his stockholders