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- Sara is planning to open a construction company in the UK. She understands that a limited company needs more formalities in terms of formation and operation, compared to other forms of business organisations, however, it will be more beneficial to her. Sara is already familiar with the reporting and recording requirements of a partnership since she is a partner at SAZ Hardware in the UK. She asked your help on the following: a. Describe how a company is formed, owned and managed.…Joe is interested in purchasing a café in Hillcrest, primarily catering to the student market. Assume that Joe’s parents are likely to invest in the business and may play a management role. Describe the major characteristics, as well as listing the advantages and disadvantages, of any three forms of business structure appropriate to carrying on this business.Karen and Yanique are opening a jewellery store with no competition in the area from which they intend to operate their business. Their fundamental decision is how to organize the business. They anticipate super profits the first year, with the ability to sell franchises in the future. Although they have enough to start the business now as a partnership, cash flow will be an issue as they grow and as such, they feel the corporate form of operation will be best for the long term. They seek your advice . If the corporation when formed sets a par value for its shares low and issue common stock for a price above par, what is this amount above par called? Can this amount be treated as a gain, income, or profit for the corporation? Please give the reason for your answer
- Hudson Signs, Inc., needs funds, and Alley Hudson, the president, has asked you to considerinvesting in the business. Answer the following questions about the different ways that Hudsonmight organize the business. Explain each answer.a. What forms of organization will enable the owners of Hudson Signs, Inc., to limit theirrisk of loss to the amounts they have invested in the business?b. What form of business organization will give Alley Hudson the most freedom to manage the business as she wishes?c. What form of organization will give creditors the maximum protection in the event thatHudson Signs, Inc., fails and cannot pay its debts?Karen and Yanique are opening a jewellery store with no competition in the area from which they intend to operate their business. Their fundamental decision is how to organize the business. They anticipate super-profits the first year, with the ability to sell franchises in the future. Although they have enough to start the business now as a partnership, cash flow will be an issue as they grow and as such, they feel the corporate form of operation will be best for the long term. They seek your advice. Requirements: State three (3) of the main advantage they gain by selecting a corporate form of business now. Would you recommend they initially issue preferred or common stock? Why? If the corporation when formed sets a par value for its shares low and issue common stock for a price above par, what is this amount above par called? Can this amount be treated as a gain, income, or profit for the corporation? Please give the reason for your answer.Sarah and Doug want to set up a company to start a business importing children’s toys from Europe into New Zealand. They will both be directors and equal shareholders. They each pay $500,000 for 100 shares each. The company will have assets (personal property) worth $950,000 and $50,000 in cash reserves. The company will borrow $100,000 from Big Bank to make the first purchase of toys from Europe. The company’s assets do not have any securities registered over them. Which of the following statements are INCORRECT? As the directors of the company, Sarah and Doug are personally liable for the $100,000 debt that the company will incur. The company will carry on existing if either Sarah or Doug retires as a director or sells their shares. The company is a separate legal person and its debts are separate from those owed by Sarah and Doug. Sarah and Doug will be able to issue additional shares and sell them if they want to raise additional funds for their company in the future.
- Karen and Yanique are opening a jewellery store with no competition in the area from which they intend to operate their business. Their fundamental decision is how to organize the business. They anticipate super profits the first year, with the ability to sell franchises in the future. Although they have enough to start the business now as a partnership, cash flow will be an issue as they grow and as such, they feel the corporate form of operation will be best for the long term. They seek your advice. Requirements . Would you recommend they initially issue preferred or common stock? Why?What advice will you give to someone who has limited capital but possesses all the necessary skills to start a planned business? A)Build a sole proprietorship business and source funding from a bank or other personal connections. B)Set up a partnership business and teach them the necessary skills to make the business work C)Organize a corporation since it is the easiest form of business since it requires less paperwork D)Make an LLC and inviting only your closest friends to invest in your businessKaren and Yanique are opening a jewellery store with no competition in the area from which they intend to operate their business. Their fundamental decision is how to organize the business. They anticipate super profits the first year, with the ability to sell franchises in the future. Although they have enough to start the business now as a partnership, cash flow will be an issue as they grow and as such, they feel the corporate form of operation will be best for the long term. They seek your advice.
- Alyssa and Becky are suddenly successful candy makers and have been advised to organize their business to continue their success. They both want to avoid liability and be taxed as little as possible. Alyssa and Becky have heard about the limited liability company and corporations and have sought your advice regarding which form would better achieve their goals and how to organize their business. (a) To create and organize the business.?(b) How can Alyssa and Becky avoid being labeled as another business form? (c) What challenges might exist for creating their desired form?Karen and Yanique are opening a jewellery store with no competition in the area from which they intend to operate their business. Their fundamental decision is how to organize the business. They anticipate super profits the first year, with the ability to sell franchises in the future. Although they have enough to start the business now as a partnership, cash flow will be an issue as they grow and as such, they feel the corporate form of operation will be best for the long term. They seek your advice. Requirements: State three (3) of the main advantage they gain by selecting a corporate form of business now. Would you recommend they initially issue preferred or common stock? Why? If the corporation when formed sets a par value for its shares low and issue common stock for a price above par, what is this amount above par called? Can this amount be treated as a gain, income, or profit for the corporation? Please give the reason for your answer. Assume one year later (2019) the…Karen and Yanique are opening a jewellery store with no competition in the area from which they intend to operate their business. Their fundamental decision is how to organize the business. They anticipate super profits the first year, with the ability to sell franchises in the future. Although they have enough to start the business now as a partnership, cash flow will be an issue as they grow and as such, they feel the corporate form of operation will be best for the long term. They seek your advice. Requirements State three (3) of the main advantage they gain by selecting a corporate form of business now.