The Corporate form of Business: There are several forms of business organizations like proprietorship, partnership , limited liability partnership, Corporate etc. Corporate for is the most complicated and wider form of business organization. It creates a separate legal identity of the business and allow the business to raise funds through public issue. Common Stock v/s Preferred Stock: These are two types of the share capital of a company. Common Stock represents the Common shares issued to the shareholders and preferred stock represents the preference shares issued. Preference shares are given preference in payment of dividends and repayment of capital. Common shareholders get the inbuilt right to vote in decisions of the company and preference shareholders generally do not get this right but they may get voting rights with special provisions. 1. Advantages of the Corporate form of business: To indicate: The advantages of the Corporate form of business

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Answer 1

Question

Chapter 13, Problem P13.46BPGB

To determine

The Corporate form of Business:

There are several forms of business organizations like proprietorship, partnership, limited liability partnership, Corporate etc. Corporate for is the most complicated and wider form of business organization. It creates a separate legal identity of the business and allow the business to raise funds through public issue.

Common Stock v/s Preferred Stock:

These are two types of the share capital of a company. Common Stock represents the Common shares issued to the shareholders and preferred stock represents the preference shares issued. Preference shares are given preference in payment of dividends and repayment of capital. Common shareholders get the inbuilt right to vote in decisions of the company and preference shareholders generally do not get this right but they may get voting rights with special provisions.

1. Advantages of the Corporate form of business:

To indicate:

The advantages of the Corporate form of business

To determine

2. Initial issue by the company:

To indicate:

The type of initial share capital

To determine

3. The Number of shares to be issued:

To determine:

The number of shares to be issued to raise the desired capital

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Consolidation after Several Years On January 1, 2016, Adams Corporation acquired all of the stock of Baker Company. The fair value of Adams’ shares used in the exchange was $37,500,000. At the time of acquisition, the book value of Baker’s shareholders’ equity was $5,000,000, and the book value of Baker’s building (25-year life) exceeded its fair value by $1,000,000. From the date of acquisition to December 31, 2021, Baker had cumulative net income of $1,300,000. For 2022, Baker reported net income of $300,000. Adams uses the complete equity method to account for its investment in Baker. There is no goodwill impairment loss for the period 2016 through 2021, but there is impairment loss of $100,000 in 2022. Baker declared no dividends during the period 2016–2022. Required Prepare the working paper eliminating entries necessary to consolidate the financial statements of Adams and Baker at December 31, 2022. Enter numerical answers using all zeros (do not abbreviate in thousands or in…

Answer 2

Question

Chapter 13, Problem P13.46BPGB

To determine

The Corporate form of Business:

There are several forms of business organizations like proprietorship, partnership, limited liability partnership, Corporate etc. Corporate for is the most complicated and wider form of business organization. It creates a separate legal identity of the business and allow the business to raise funds through public issue.

Common Stock v/s Preferred Stock:

These are two types of the share capital of a company. Common Stock represents the Common shares issued to the shareholders and preferred stock represents the preference shares issued. Preference shares are given preference in payment of dividends and repayment of capital. Common shareholders get the inbuilt right to vote in decisions of the company and preference shareholders generally do not get this right but they may get voting rights with special provisions.

1. Advantages of the Corporate form of business:

To indicate:

The advantages of the Corporate form of business

To determine

2. Initial issue by the company:

To indicate:

The type of initial share capital

To determine

3. The Number of shares to be issued:

To determine:

The number of shares to be issued to raise the desired capital

Expert Solution & Answer

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Answer 3

Question

Chapter 13, Problem P13.46BPGB

To determine

The Corporate form of Business:

There are several forms of business organizations like proprietorship, partnership, limited liability partnership, Corporate etc. Corporate for is the most complicated and wider form of business organization. It creates a separate legal identity of the business and allow the business to raise funds through public issue.

Common Stock v/s Preferred Stock:

These are two types of the share capital of a company. Common Stock represents the Common shares issued to the shareholders and preferred stock represents the preference shares issued. Preference shares are given preference in payment of dividends and repayment of capital. Common shareholders get the inbuilt right to vote in decisions of the company and preference shareholders generally do not get this right but they may get voting rights with special provisions.

1. Advantages of the Corporate form of business:

To indicate:

The advantages of the Corporate form of business

To determine

2. Initial issue by the company:

To indicate:

The type of initial share capital

To determine

3. The Number of shares to be issued:

To determine:

The number of shares to be issued to raise the desired capital

Expert Solution & Answer

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Answer 4

Question

Chapter 13, Problem P13.46BPGB

To determine

The Corporate form of Business:

There are several forms of business organizations like proprietorship, partnership, limited liability partnership, Corporate etc. Corporate for is the most complicated and wider form of business organization. It creates a separate legal identity of the business and allow the business to raise funds through public issue.

Common Stock v/s Preferred Stock:

These are two types of the share capital of a company. Common Stock represents the Common shares issued to the shareholders and preferred stock represents the preference shares issued. Preference shares are given preference in payment of dividends and repayment of capital. Common shareholders get the inbuilt right to vote in decisions of the company and preference shareholders generally do not get this right but they may get voting rights with special provisions.

1. Advantages of the Corporate form of business:

To indicate:

The advantages of the Corporate form of business

To determine

2. Initial issue by the company:

To indicate:

The type of initial share capital

To determine

3. The Number of shares to be issued:

To determine:

The number of shares to be issued to raise the desired capital

Expert Solution & Answer

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Answer 5

Chapter 13, Problem P13.46BPGB

To determine

The Corporate form of Business:

There are several forms of business organizations like proprietorship, partnership, limited liability partnership, Corporate etc. Corporate for is the most complicated and wider form of business organization. It creates a separate legal identity of the business and allow the business to raise funds through public issue.

Common Stock v/s Preferred Stock:

These are two types of the share capital of a company. Common Stock represents the Common shares issued to the shareholders and preferred stock represents the preference shares issued. Preference shares are given preference in payment of dividends and repayment of capital. Common shareholders get the inbuilt right to vote in decisions of the company and preference shareholders generally do not get this right but they may get voting rights with special provisions.

1. Advantages of the Corporate form of business:

To indicate:

The advantages of the Corporate form of business

To determine

2. Initial issue by the company:

To indicate:

The type of initial share capital

To determine

3. The Number of shares to be issued:

To determine:

The number of shares to be issued to raise the desired capital

Answer 6

Chapter 13, Problem P13.46BPGB

To determine

The Corporate form of Business:

There are several forms of business organizations like proprietorship, partnership, limited liability partnership, Corporate etc. Corporate for is the most complicated and wider form of business organization. It creates a separate legal identity of the business and allow the business to raise funds through public issue.

Common Stock v/s Preferred Stock:

These are two types of the share capital of a company. Common Stock represents the Common shares issued to the shareholders and preferred stock represents the preference shares issued. Preference shares are given preference in payment of dividends and repayment of capital. Common shareholders get the inbuilt right to vote in decisions of the company and preference shareholders generally do not get this right but they may get voting rights with special provisions.

1. Advantages of the Corporate form of business:

To indicate:

The advantages of the Corporate form of business

Answer 7

Chapter 13, Problem P13.46BPGB

To determine

The Corporate form of Business:

There are several forms of business organizations like proprietorship, partnership, limited liability partnership, Corporate etc. Corporate for is the most complicated and wider form of business organization. It creates a separate legal identity of the business and allow the business to raise funds through public issue.

Common Stock v/s Preferred Stock:

These are two types of the share capital of a company. Common Stock represents the Common shares issued to the shareholders and preferred stock represents the preference shares issued. Preference shares are given preference in payment of dividends and repayment of capital. Common shareholders get the inbuilt right to vote in decisions of the company and preference shareholders generally do not get this right but they may get voting rights with special provisions.

1. Advantages of the Corporate form of business:

To indicate:

The advantages of the Corporate form of business

Answer 8

To determine

2. Initial issue by the company:

To indicate:

The type of initial share capital

Answer 9

To determine

2. Initial issue by the company:

To indicate:

The type of initial share capital

Answer 10

To determine

3. The Number of shares to be issued:

To determine:

The number of shares to be issued to raise the desired capital

Answer 11

To determine

3. The Number of shares to be issued:

To determine:

The number of shares to be issued to raise the desired capital

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 13 - Prob. 1QC Ch. 13 - Prob. 2QC Ch. 13 - Prob. 3QC Ch. 13 - Prob. 4QC Ch. 13 - Prob. 5QC Ch. 13 - Prob. 6QC Ch. 13 - Prob. 7QC Ch. 13 - Prob. 8QC Ch. 13 - Prob. 9QC Ch. 13 - Prob. 10QC

2. Initial issue by the company: To indicate: The type of initial share capital

3. The Number of shares to be issued: To determine: The number of shares to be issued to raise the desired capital

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2. Initial issue by the company:

To indicate:

The type of initial share capital

3. The Number of shares to be issued:

To determine:

The number of shares to be issued to raise the desired capital