Hi CPA, How is your summer going? I’m sure you’re keeping busy, but could I set an appointment with you?

Hi CPA,How is your summer going? I’m sure you’re keeping busy, but could I set an appointment with you? I would like to discuss my future financial goals.Here is a summary of my future financial goal ideas for 2015 (and beyond):You remember my current business – The Retail Surf Shop – which was a joining of my parent’s (corporate) surf shop & my (corporate) beachwear retail business. The mixture of inventory in The Retail Surf Shop has been the key element for business growth. Now I’d like to take the next step and offer more product variety in my business. My brother also manages his own business, a small skateboarding business named ‘Sk8r’ Incorporated. Seeing The Retail Surf Shop’s success, my brother dreams of introducing snowboarding products into his current business. ‘Sk8r’ Incorporated applied for a $50,000 bank loan with the intention of business expansion, but the bank denied the loan application. The bank said that ‘Sk8r’ Incorporated is a high-risk borrower, and they cannot offer a loan (with a decent interest rate).Then I had a brilliant idea….The Retail Surf Shop could acquire ‘Sk8r’ Incorporated. With our powers combined, we will easily qualify for a $50,000 loan. I see endless potential in my idea…but is there a risk? Would you give me your opinion on these financial decisions?1. Should I pursue a statutory merger, a statutory consolidation, or keep our businesses as two separate legal entities? Please explain the reasoning/logic of your conclusion.2. How will this acquisition impact my QuickBooks journal entries? How will the accounting differ between a statutory merger, a statutory consolidation, or separate legal entities?3. Are there any hidden costs (ie. unforeseen costs) in a business acquisition?

Surname 1NameInstructorCourseDateFuture Financial Goal 1. Should I pursue a statutory merger, a statutory consolidation, or keep our businesses astwo separate legal entities? Please explain…

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