Introduction to Business
OER 2018 Edition
ISBN: 9781947172548
Author: OpenStax
Publisher: OpenStax College
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Chapter 4.4, Problem 1CC
Describe the two types of cooperatives and the advantages of each.
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Please provide this question solution general accounting
Prince Corporation acquired 100 percent of Sword Company on January 1, 20X7, for $187,000. The trial balances for the two companies on December 31, 20X7, included the following amounts:
Item
Prince Corporation
Sword Company
Debit
Credit
Debit
Credit
Cash
$ 94,000
$ 43,000
Accounts Receivable
59,000
64,000
Inventory
183,000
104,000
Land
92,000
38,000
Buildings and Equipment
496,000
151,000
Investment in Sword Company
248,000
Cost of Goods Sold
496,000
254,000
Depreciation Expense
22,000
12,000
Other Expenses
65,000
65,000
Dividends Declared
51,000
23,000
Accumulated Depreciation
$ 153,000
$ 60,000
Accounts Payable
64,000
34,000
Mortgages Payable
192,000
111,000
Common Stock
291,000
40,000
Retained Earnings
335,000
91,000
Sales
687,000
418,000
Income from Sword Company
84,000
$ 1,806,000
$ 1,806,000
$ 754,000
$ 754,000
Additional Information
On January 1, 20X7, Sword…
Chapter 4 Solutions
Introduction to Business
Ch. 4.1 - What is a sole proprietorship?Ch. 4.1 - Why is this a popular form of business...Ch. 4.1 - What are the drawbacks to being a sole proprietor?Ch. 4.2 - How does a partnership differ from a sole...Ch. 4.2 - Describe the four main types of partnerships, and...Ch. 4.2 - What are the main advantages and disadvantages of...Ch. 4.3 - What is a corporation? Describe how corporations...Ch. 4.3 - Summarize the advantages and disadvantages of...Ch. 4.3 - Why do S corporations and limited liability...Ch. 4.4 - Describe the two types of cooperatives and the...
Ch. 4.4 - What are the benefits of joint ventures?Ch. 4.5 - Describe franchising and the main parties to the...Ch. 4.5 - Summarize the major advantages and disadvantages...Ch. 4.5 - Why has franchising proved so popular?Ch. 4.6 - Differentiate between a merger and an acquisition.Ch. 4.6 - What are the most common motives for corporate...Ch. 4.6 - Describe the different types of corporate mergers.Ch. 4.7 - What are some of the demographic trends currently...Ch. 4.7 - As a prospective business owner, what could you do...Ch. 4.7 - What other economic trends are influencing today's...Ch. 4 - After seeing a Quiznos franchise recruitment...Ch. 4 - Is the not-for-profit form of business...Ch. 4 - Why has this form of ownership not been replicated...Ch. 4 - What are the limitations and constraints that this...
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