Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cedar Fair, L.P is a publicly traded limited partnership that owns and operates six amuse- ment parks, including Cedar Point in Sandusky, Ohio, and Knotts

image text in transcribed
Cedar Fair, L.P is a publicly traded limited partnership that owns and operates six amuse- ment parks, including Cedar Point in Sandusky, Ohio, and Knotts Berry Farm in Buena Park California Cedar Fair trades on the New York Stock Exchange under the ticker sym- bol FUN 1.Go to Cedar Fair's Web site and access its most recent annual report. Use the annual report to complete the following questions a What is a publicly traded limited partnership? b. Instead of common stock, what security represents ownership? c What rights do the partnership security owners have? Are they similar to common stockholders? d. Do the owners of trading limited partnerships receive dividends? If not, what types of "dividend"-like distributions do they receive? 2. A partnership needs at least one general partner. In the case of Cedar Fair. a. Who is (are) the general partnerts)? b. What role does the general partner have in running Cedar Fair? c What is this partner's legal liability for the partnership's liabilities? d. What is the percentage of ownership for the general partner? e How is the general partner compensated by the partnership? Does this seem reason- able given the risk and work performed for the partnership? 3. What is the major reason(s) that Cedar Fair was organized as a partnership instead as a stock corporation? 4. In reviewing the financial statements of Cedar Fair, how are they different from traditional stock corporation's statements? of

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Capex A Knowledge Based Expert System For Substantive Audit Planning

Authors: J. Efrim Boritz, Anthony K. P. Wensley

1st Edition

1558760563, 978-1558760561

More Books

Students also viewed these Accounting questions

Question

Identify the three economic indicators.

Answered: 1 week ago

Question

Make efficient use of your practice time?

Answered: 1 week ago