Joseph is the sole trustee of a trust fund of $1,000,000. By the terms of the trust, he is under a duty to invest the money ‘as if he were absolutely entitled to the assets of the trust’. Ronald, an investment broker, approaches him, who offers to pay him $100,000 ‘no questions asked’ if he invests the trust fund with him. Joseph agrees, and is paid the $100,000. Ronald invests the $1,000,000 on the stock market, eventually losing $700,000. Joseph is now insolvent with only $300,000 remaining, and Ronald has fled the country. Advise the beneficiaries of the trust. Critically discuss the view that preference shares are best described as debt rather than equity. Examine the difference between public and private companies. Critically discuss why a Company may list on a local stock exchange. Select a company on the Caribbean Stock Exchange and outline if they gained benefits from public listing

Explain the circumstances under which you feel a consumer bankruptcy is appropriate, and when the ability to have a debt eliminated should be restricted.

On January 1, 2019, Aspen Company acquired 80 percent of Birch Company's voting stock for $392,000. Birch reported a $355,000 book value, and the fair value of the noncontrolling interest was $98,000 on that date. Then, on January 1, 2020, Birch acquired 80 percent of Cedar Company for $228,000 when Cedar had a $204,000 book value and the 20 percent noncontrolling interest was valued at $57,000. In each acquisition, the subsidiary's excess acquisition-date fair over book value was assigned to a trade name with a 30-year remaining life.   These companies report the following financial information. Investment income figures are not included.        2019 2020 2021 Sales:             Aspen Company $ 500,000 $ 750,000 $ 825,000 Birch Company   251,500   343,250   627,900 Cedar Company Not available   164,900   246,800 Expenses:             Aspen Company $ 465,000 $ 567,500 $ 632,500 Birch Company   199,000   282,000   555,000 Cedar Company Not available   152,000…

John and Jane are partners who purchase and renovate houses.  Five years ago, they purchased a house in Portsmouth, New Hampshire with all of their available cash.  Having no money to make repairs they asked a contractor Jim to agree to do repairs on the house for a third of the profit when the house sold.  The contractor repaired the house within a year. Jim has worked with John and Jane previously there was no written agreement.  Once the house was repaired John and Jane rented the house.  Recently without telling Jim, John and Jane entered into a purchase and sales agreement with their tenant for a $200,000 profit.  Jim found out about the proposed sale and has filed a lawsuit against John and Jane for his share of the sale profits and rental proceeds.  Jim also requested and received from the Court a pre-judgment attachment which prevents the sale of the house until the lawsuit is resolved. Due to the increased value of the real estate the Tenants are now suing John and Jane asking…

Steven, an accountant, returning from his office, calls into a pub for a relaxing drink. He bumps into Paul, an old school friend, whom he has not seen for many years. During the course of the conversation over a number of pints, it emerges that Paul has recently inherited a substantial sum of money and is interested in investing in local businesses. Steven mentions that one of his clients, Precarious Ltd, is seeking financial backing and would make an attractive investment. By chance, he has a copy of the company’s accounts in his briefcase which he gives to Paul. Relying on these accounts, Paul invests £10,000 in Precarious Ltd, but loses everything when Precarious goes into liquidation six months later. In fact, the accounts had been prepared negligently and did not reflect the parlous state of the company’s affairs. Advise Paul.

If a member of a limited liability company dissociates from the firm in violation of the operating agreement, the member can be held liable for any loss to the business resulting from the withdrawal. True False

.        Explain what constitutes an act of bankruptcy according to canadian law

In 2022, Rebecca formed Black Corporation, a C-Corporation. Rebecca transferred real. estate with an adjusted basis of $260,000 and a fair market value of $390,000 in exchange for 100% of Black Corporation's common stock. The real estate was encumbered by a mortgage of $290,000, which Black Corporation assumed. The total value of Black Corporation's common stock after formation was $100,000. Q A N a) What amount of gain or loss is realized and recognized by Rebecca on the real estate transfer to Black Corporation? b) What basis does Rebecca take in her Black Corporation stock? c) What basis does Black Corporation take in the real estate contributed by Rebecca? 2 W S 3 X مو do command E D C R F 5 T V 6 G Y B 67 H U 8 N I 9 M O 0 V مو ob P command

Why does the agent have personal liability when the principal is undisclosed?

A limited partner is responsible for any debts of the partnership, regardless of whether he or she was directly involved in the transaction that created the debt.;True or False