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Intermediate accounting - case study

Intermediate accounting - case study. CA 15-1 (Page 815). 第六組 98153218 賴仲驊 99152486 　林怡妏 99152383 　吳培弘 99152304 　潘扶星 99152357 　劉柏豪. Case15-1. Wallace computer company is a small closely held corporation. 股東成員. 公 司 財務狀況表. 現金增資.

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Intermediate accounting - case study

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  1. Intermediate accounting- case study CA 15-1 (Page 815) 第六組 98153218賴仲驊 99152486 　林怡妏 99152383 　吳培弘 99152304 　潘扶星 99152357 　劉柏豪

  2. Case15-1 • Wallace computer company is a small closely held corporation. 股東成員

  3. 公司財務狀況表

  4. 現金增資 • Additional authorized ordinary shares of $300,000 par value have never been issued. • To strengthen the cash position of the company, Wallace issued ordinary shares with a par value of $100,000 to himself at par of cash. • At the next shareholders’ meeting, Baker objected and claimed that her interests had been injured.

  5. Instructions • (a) which shareholder’s right was ignored in the issue of shares to Derek Wallace? • (b) how may the damage to Baker’s interests be repaired most simply? • (c) If Derek Wallace offered Baker a personal cash settlement and they agreed to employ you as an impartial arbitrator to determine the amount, what settlement would you propose? Present your calculations with sufficient explanation to satisfy both parties.

  6. Answers • (a) which shareholder’s right was ignored in the issue of shares to Derek Wallace? • Answer: Derek Wallace忽視了其他股東的優先認購權（PreemptiveRights）。 • 優先認購權－意指規定於公司法，為了保障原股東而賦予其優先認購新股的權利，且其新股之認購價通常低於市價。 • 公司法　第二百六十七條　 公司發行新股時，除經目的事業中央主管機關 專案核定者外，應保留發行新股總數百分之十 至十五之股份由公司員工承購。其餘應公告及 通知原有股東，按照原有股份比例儘先分認， 並聲明逾期不認購者，喪失其權利。

  7. 對其他股東之損害 • Derek Wallace在未通知其他股東的情形下，自行以面額收購全部之新股，使其持股比例上升，其行為不但違背公司法，亦可能侵害到其他股東之權利。 • 普通股股東所享有之權利及Derek Wallace此次行為對其之影響： (1) 公司控制權： 原Derek Wallace持股比例為80%，依照公司法規定，表決權超過2/3即可主導所有議案，故即使Derek Wallace持股比例上升，其對公司之控制權並未應此擴張。 (2) 盈餘分配權： 公司的盈餘在納稅、提撥公積後，除經股東大會決議保留外，剩餘部分應依股份比例分配股利，但因為Derek Wallace持股比例上升且其他股東相對持股比例下降，在未來盈餘分配時，其他股東會被分配到較少的盈餘。 (3) 剩餘財產請求權：(case第3題的依據) 由於承購價低於公司每股淨值，將使股東對於公司淨資產請求的權力下降

  8. ANSWERS • (b) how may the damage to Baker’s interests be repaired most simply? • 原本的股東結構（假設每股面額$1） • Derek 購買$100,000普通股後之股東結構

  9. answers • 解決方法一： • Derek Wallace 新購入面額$100,000的普通股，使他本身持有股本擴充了50% 。 新購入股本$100,000 = 50% 原持有股本$200,000 • 故Ms. Baker應讓本身持有股本亦增加50%, 也就是增加面額$12,500之普通股。 • 其他剩餘股東也應讓本身持有股本亦增加，如此一來各股東持股比例又回復至現金增資前之持股比例。

  10. answers • 解決方法二： • 假設每股面額$1，故發行新股總股數100,000股，直接依照原持股比例分配：

  11. Question Review • (c) If Derek Wallace offered Baker a personal cash settlement and they agreed to employ you as an impartial arbitrator (公正的仲裁人) to determine the amount, what settlement would you propose? Present your calculations with sufficient explanation to satisfy both parties.

  12. Answers • 因無相關市值可參考，故以面額計算。 • 公司淨值： • Book value of Ms. Baker’s ordinary shares, June 30, 2010, beforeissuance of additional shares, 25/250 X $422,000............................................. $42,200 Book value after issuance of additional shares toDerek Wallace, 25/350 X $522,000.............................................(37,286) • Loss in book value and amount of cash settlement.......$ 4,914

  13. 資料來源 • Intermediate Accounting, Kieso, Weygandt, and Warfield • 財務管理 張永霖著 • 公司法

  14. 謝謝聆聽

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