Some limited partnerships have SEC filing requirements because of selling units or debt securities to the public. One such was Fairfield Inn By Marriott Limited which had a series of filings from January 1998 to May 2006. Using the SEC’s EDGAR (www.sec.gov), obtain the annual report for this limited for the year ended December 31, 2003, which was filed on May 14, 2004.
Required
Answer each of the following questions from the information you obtain by analyzing the 10-K of Fairfield Inn By Marriott Limited Describe the formation of the including the date of formation and the purpose for the limited Who was the initial general partner? What was the general partner’s initial percentage interest in the And who was general partner as of December 31, 2003?
c. What was the general partner’s profit percentage? What economic reasons might the general partner have had for investing ii this What were the major elements of the Restructuring Plan approved in 2001 by the limited partners?
e. What were the major elements of the Plan of that was initiated in 2003?
f. The adopted the basis of accounting beginning on September 30, 2003. Briefly describe the basis of accounting the used.
g. Compare the partnership’s before and then after the September 30, 2003, adoption of the basis of accounting.
h. The filed a Form 15-12G on May 1, 2006. Obtain this filing. What is the purpose of this form that is required by the SEC?
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