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8 months ago

Indicate which activities of Stockton Corporation violated the rights of a stockholder who owned one share of common stock

1 answer:

5 0

Stockton Corporation violated the rights of a stockholder who owned one share of common stock by paying the stockholder a smaller dividend per share than another common stockholder or rejecting the stockholder's sale of stock on an organized exchange and the stockholder's request to vote via proxy because she was home sick.

<h3>What are the reasons for violation?</h3>

A shareholder is a person who purchases shares in a firm that is publicly traded. They are known as owners and are qualified to receive dividends. Dividends represent a percentage of income.

Dividends paid to common shareholders are equal for all.

Greater preference is given to preferred shareholders than to regular stockholders.

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Sales are $1.44 million, cost of goods sold is $570,000, depreciation expense is $144,000, other operating expenses is $294,000,

anygoal [31]

Answer:

Times Interest earned ratio is 4.41 times

Explanation:

Times interest earned ratio measure the business capability to pay the interest over its liabilities from its current earning.

As interest expense value is not given it is calculated by the net of Earning before interest and tax and Income before tax

Net Income = Addition to Retained Earning + Dividend Paid = $133,100 + ( 84,000 x $1 ) = $133,100 + $84,000 = $217,100

Income before tax = $217,100 x 100% / ( 100% - 35%) = $334,000

Earning before interest and tax = Sales - Cost of goods sold - depreciation expense - other operating expenses = 1,440,000 - 570,000 - 144,000 - 294,000 = $432,000

Interest Expense = Earning before interest and tax - Income before tax = $432,000 - 334,000 = $98,000

Times Interest earned ratio = Earning before Interest and tax / Interest expense = $432,000 / $98000 = 4.41 time

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2 years ago

The federal government uses the revenue from the fica (federal insurance contribution act) tax to pay for

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Social Security and Medicare benefits to elderly and retired people.

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3 years ago

Madison Company issued an interest-bearing note payable with a face amount of $9,000 and a stated interest rate of 8% to the Met

castortr0y [4]

Answer:

zero

Explanation:

The activity in this scenario is fund raising/ issue note to a bank which is booked in financing activities, not in operating activities.

Thus we can said "there's no operating activity in Madison Company cash flow of 2016" if there's no other information.

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3 years ago

Researchers have found which of these to be the most popular downward influence tactics?

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The best and most correct answer among the choices provided by the question is the first choice. On the other hand, the answer for the second question is the second choice. I hope my answers has come to your help. God bless and have a nice day ahead!

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2 years ago

As a result of a thorough physical inventory, Sheridan Company determined that it had inventory worth $320800 at December 31, 20

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Answer:

Sheridan Company

The correct amount of inventory that Sheridan should report is:

= $367,100

Explanation:

a) Data and Calculations:

December 31 Inventory based on physical inventory = $320,800

Goods held on consignment by Herschel = 46,300

December 27, FOB destination goods ($22,000) 0

Correct amount of inventory that Sheridan should report $367,100

b) Goods on consignment are generally the property of the consignor (supplier) and not the consignee's (retailer's). Therefore, they must appear in the balance sheet of the consignor. Goods on FOB destination remain the property of the supplier until they reach the buyer's destination. This is why it is not included above.

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2 years ago