Answered: O 1 75% AT&T LTE 11:52 AM Exit 56 9.… | bartleby

SWFT Comprehensive Vol 2020

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter22: S Corporations

Section: Chapter Questions

Problem 2DQ

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100%

O 1 75%
AT&T LTE
11:52 AM
Exit
56
9.
Which of the following is NOT a direct
action that can be taken by shareholders?
Voting to remove the
management team
Submitting shareholder resolutions
directing the board to take specific
actions
Withholding votes for the board of
directors candidates
Initiating a proxy contest
10.
Which of the following statements is
FALSE?

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12. When a company retires its own common shares, the company must a.decrease the common share account balances by the original issue price. b.record a gain or loss depending on the difference between original selling price and repurchase cost. c.get the approval of the government to do so. d.issue a different class of shares to the former shareholders.
S1 When a corporation reacquired its own share due to delinquency and no bidders, the share must be retired immediately. S2 An ordinary shareholder receives, the same privileges and rights as preference shareholders. a. Both statements are true b. Both statements are false c. One statement is true, and the other one is false S1 A subscriptions receivable that are collectible within one year is part of shareholders equity. S2 Par value equity shares should not be issued for a consideration below P5.00 per share. a. Both statements are true b. Both statements are false c. One statement is true, and the other one is false
b) Demonstrate that in principle the shareholders will be equally well off by subscribing to the issue or by selling their rights. Assume the shareholder has 100 shares c) Explain the impact on the value of the right if the issue is undertaken on the specified terms and the share (cum-rights) price falls to € 1.8 shortly after the shareholders are invited to subscribe to the new issue
Read Section 1367 1. What items increase shareholder basis? 2. What items decrease shareholder basis? ReadReg.Section1.1366-2 1. What did the Maguire case hold?
Q) The Daddy Group has the following group structure: Daddy ltd 80% 80% 27% Son 1 Ltd Son 2 Ltd Son 3 Ltd 70% 55% 30% Son 4 Ltd Son 5 Ltd 10% 5% 45% 95% Son 6 Ltd Son 7 Ltd (a) Reproduce and complete the following controlling and noncontrolling table. Also, show the calculations for consolidated adjustment. (b) What percentage of voting in Son 7 Ltd will be controlled by Daddy Ltd? (c) What percentage of dividend declared by Son 7 Ltd will be received by Daddy Ltd? Daddy Interest Son 1 Son 4 Son 2 Son 5 Son 7 Son 6 Son 3 Direct% Indirect% Non-controlling Interest Direct% Indirect% Total
Daddy Group has the following group structure:Daddy Ltd80% 80%27%Son 1 Ltd Son 2 Ltd Son 3 Ltd70% 55%30 %Son 4 Ltd Son 5 Ltd10% 5% 45% 95%Son 6 Ltd Son 7 Ltd(a) Reproduce and complete the following controlling and non-controlling interest table. Showyour calculations.(b) What percentage of the voting in Son 7 Ltd will be controlled by the Daddy Ltd?(c) What percentage of the dividend declared by Son 7 Ltd will be received by the Daddy Ltd?Daddy Interest Son 1 Son 4 Son 2 Son 5 Son 7 Son 6 Son 3Direct %Indirect %Non-controllingInterestDirect %Indirect %Total
1. Examine the process of liquidating a public company 2, Explain at least five (5) reasons why aconvertible preference shareholder will decide to convert the sharesinto equity shares.
7.] DIY Corporation was planning to used its treasury shares and needs your financial advice on these matters: 7.1Treasury shares were acquired by the corporation at P 200.00 per share.. May the corporation sell them at only P 150.00, when the par value of each share is P 100.00? Explain. 7.2 DIY Corporation plans to used its treasury shares to vote in the meetings and received dividends. Can the corporation be allowed to do these actions?
Stockholder X attended the meeting of Greenville Corporation, where there was an amendment of increasing the capital stock of the company to P 20,000,000.00. The corporation agreed that the stocks to be issued on this increase of capital will be used to pay of its debt to BDO Finance and Leasing. The majority Board of Directors approved that the preemptive right of the stockholders will be denied and a 2/3 votes of the outstanding capital stocks was attained. You objected and did not vote to this corporate action and you decided to withdraw from the corporation. If you are the financial adviser of X, what will be your advice and the procedure to be undertaken in order that he can get back his money.
The Daddy Group has the following group structure:Daddy Ltd80% 80% 27%Son 1 Ltd Son 2 Ltd Son 3 Ltd70% 55%30 %Son 4 Ltd Son 5 Ltd10% 5% 45% 95%Son 6 Ltd Son 7 Ltd(a) Reproduce and complete the following controlling and non-controlling interest table. Show your calculations.(b) What percentage of the voting in Son 7 Ltd will be controlled by the Daddy Ltd? (c) What percentage of the dividend declared by Son 7 Ltd will be received by the Daddy Ltd? Daddy Interest
Advise the finance director of the requirements of AASB10 in respect of the control criterion. Indicate where the control rests and whether or not consolidation will be required. B Ltd is a 51% shareholder in C ltd and currently has 2 out of 5 board seats. R limited is the remaining 49% shareholder and currently has the other 3 seats. B ltd is a passive shareholder as it is happy with the way R ltd has been running the company.
note: answer all questins with true or false 1. Preference shares of stock may be issued with par or no-par value.2. A corporation can be general partner in a partnership.3. A public corporation is one formed for the government of a portion f the state. 4. All incorporators are subscribers but a subscriber need not be an incorporators.5. A partnership can be corporator in a corporation.6. A shareholder in a corporation does not have the right to transact corporate businessor to intervene in the management of the business.7. A corporation can come into existence by mere agreement of the parties as in the caseof partnerships.8. Eleemosynary corporations are those organized for public charity.9. Shares of stock cannot be transferred without the consent of the other shareholders.10. Shareholders may be natural or juridical persons.11. Death of s shareholder will dissolve the corporation.12. A de jure corporation is a corporation existing in fact and in law.13. Shares without par may be…

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