1) Shrimp Boat Company decides toconsolidate its operations with Trawlers, Inc.,to form Unique Fishers Corporation (UFC).Trawlers had rights in certain property. Afterthe consolidation, UFC acquires the rights:A.automatically.B.only after completing certain additionalstatutory procedures.C.only if Trawlers' former shareholdersexpressly approve.D.only if the acquisition is a specified result ofthe consolidation.2) Jake is the maker of a $2,000 promissorynote payable to Kim. Kim indorses the note toLou who, in turn, indorses it to Mona, whothen indorses it to Nat, the present holder.Nat properly presents the note to Jake forpayment, but Jake dishonors it. With timelynotice to the proper parties, Nat may collectpayment on the note fromKim, Lou, or Mona.Kim or Lou only.Mona only.no one.

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1) Shrimp Boat Company decides to consolidate its operations with Trawlers, Inc., to form Unique Fishers Corporation (UFC). Trawlers had rights in certain property. After the consolidation, UFC acquires the rights: A.automatically. B.only after completing certain additional statutory procedures. C.only if Trawlers' former shareholders

1) Shrimp Boat Company decides to consolidate its operations with Trawlers, Inc., to form Unique Fishers Corporation (UFC). Trawlers had rights in certain property. After the consolidation, UFC acquires the rights: A.automatically. B.only after completing certain additional statutory procedures. C.only if Trawlers' former shareholders

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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X, Inc. is negotiating with Y, Inc. to acquire 100% of X, Inc.'s share capital. X, Inc. is currently owned by Y, Inc. and meets the definition of business defined in IFRS 3. The sale of shares is subject to approval by X, Inc.'s shareholders and the government. Because the agreement takes time, prior to the sale of shares, X, Inc and Y, Inc entered into an agreement that: Both parties settle it legally with the consent of the necessary agreements; Determine the purchase price; Determined that the following decisions and actions may be taken by Y, Inc. only with X, Inc's approval until the sale of shares, through: o Changes in the management of Z, Inc; o Dividend payment; and, o New project contracts that exceed IDR 200 billion. Does X, Inc control Z, Inc as a result of this agreement?
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X and Y corporations enter in legal consolidation process. The net assets of x at the FMV 120000 and the net assets of Y at the FMV 80000. Y will be considered as ... a. Combinee b. Lessor c. Lessee d. Combinor
ABC Co. and XYZ, Inc. both engage in the same business. On January 1, 2021, ABC and XYZ signed a contract, the terms of which resulted in ABC obtaining control over XYZ without any transfer of consideration between the parties. The fair value of the identifiable net assets of XYZ Inc. on January 1, 2021 is ₱4,000,000. XYZ chose to measure non-controlling interest at the non-controlling interest’s proportionate share of the acquiree’s identifiable net assets.How much is the goodwill?
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Highpoint owns a 95 percent majority voting interest in Middlebury. In turn, Middlebury owns an 80 percent majority voting interest in Lowton. In the current year, each firm reports the following income and dividends. Separate Company income figures do not include any investment or dividend income.In addition, in computing its income on a full accrual basis, Middlebury's acquisition of Lowton necessitates excess acquisition-date fair value over book value amortizations of $25,000 per year. Similarly, Highpoint's acquisition of Middlebury requires $20,000 of excess fair-value amortizations. Required Prepare an Excel spreadsheet that computes the following: 1. Middlebury's net income including its equity in Lowton earnings. 2. Highpoint's net income including its equity in Middlebury's total earnings. 3. Total entity net income for the three companies. 4. Net income attributable to the noncontrolling interests. 5. Difference between these elements: • Highpoint's net income. • Total…

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