sol12-2 - Problem 12-2S SOLUTION (a) B Co. controls C Co....

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Problem 12-2S SOLUTION (a) B Co. controls C Co. – 256(1)( a ): associated A Co. controls B Co. – 256(1)( a ): associated A Co. controls C Co. – 256(1)( a ): associated (b) A Co. and B Co. are controlled by the same person - 256(1)( b ): associated (c) Each of the corporations is controlled by the same group - 256(1)( b ): associated (d) Each of the corporations is controlled by the same group – 256(1)( b ): associated subpar. 256(1.2)( b )(i) ensures that a corporation controlled by one person will be considered controlled by the group, notwithstanding that one person in the group (Mr. A.) controls one of the corporations himself (M Co.). (e) Both D Co. and E Co. are controlled by the same group of persons, i.e., A Co. and B Co. - 256(1)( b ): associated (f) Mr. A. is related to his son and Mr. A. owns not less than 25% of B Co. - 256(1)( c ): associated (g) Each of the corporations is controlled by a related group. Each member of one of the related groups is related to all members of the other related group. Mrs. A, who is a member of both related groups owns, in respect of both corporations, not less than 25% of the issued shares of any class, other than a specified class. - par. 256(1)( e ): associated (h) (i) Mr. A controls A Co. Mr. A is related to each member of a group that controls B Co. Mr. A owns, in respect of both corporations, not less than 25% of the issued shares of any class, other than a specified class. - 256(1)( d ): associated. Par. 256(1.2)(
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This note was uploaded on 03/24/2012 for the course ACCOUNTING IAF841 taught by Professor Ganesh during the Spring '12 term at Seneca.

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sol12-2 - Problem 12-2S SOLUTION (a) B Co. controls C Co....

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