Introduction to Business
OER 2018 Edition
ISBN: 9781947172548
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 4.4, Problem 2CC
What are the benefits of joint ventures?
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Katherine Brewer is the stockholder and operator of Our Idol LLC, a motivational consulting business. At the end of its accounting period,
December 31, 2017, Our Idol has assets of $574,000 and liabilities of $138,000. Using the accounting equation, determine the following
amounts:
a. Stockholders' equity as of December 31, 2017.
b. Stockholders' equity as of December 31, 2018, assuming that assets increased by $109, 000 and liabilities decreased by $33, 000 during
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Plug Products owns 80 percent of the stock of Spark Filter Company, which it acquired at underlying book value on August 30, 20X6. At that date, the fair value of the noncontrolling interest was equal to 20 percent of the book value of Spark Filter. Summarized trial balance data for the two companies as of December 31, 20X8, are as follows:
Plug Products
Spark Filter Company
Credit
Debit
Credit
Debit
Cash and Accounts Receivable
$ 149,000
$ 110,000
Inventory
239,000
116,000
Buildings and Equipment (net)
281,000
183,000
Investment in Spark Filter Company
264,640
Cost of Goods Sold
174,000
139,000
Depreciation Expense
40,000
30,000
Current Liabilities
$ 178,200
$ 65,000
Common Stock
200,000
89,000
Retained Earnings
464,000
210,000
Sales
264,000
214,000
Income from Spark Filter Company
41,440
Total
$ 1,147,640
$ 1,147,640
$ 578,000
$ 578,000
On January 1, 20X8, Plug's inventory contained filters purchased…
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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