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zavuch27 [327]
3 years ago
12

You want a seat on the board of directors of Four Keys, Inc. The company has 240,000 shares of stock outstanding and the stock s

ells for $57 per share. There are currently 3 seats up for election. If the company uses cumulative voting, how many shares do you need to guarantee that you will be elected to the board?
Business
1 answer:
Ganezh [65]3 years ago
8 0

Answer:

$3420057

Explanation:

the company uses cumulative voting, the board of directors are all elected at once. You will need 1/(N+ 1) percent of the stock (plus one share) to guarantee election, where N is the number of seats up for election. So, the percentage of the company’s stock you need will be:Percent of stock needed = 1 / (N+ 1)Percent of stock needed =

1 / (3 + 1)Percent of stock needed = .25 or 25%So, the number of shares you need to purchase is:Number of shares to purchase = (240,000 × .25) + 1Number of shares to purchase = 60,001 And the total cost to you will be the shares needed times the price per share, or: Total cost = 60,001  $57Total cost =$ 3420057

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McGuire Company acquired 90 percent of Hogan Company on January 1, 2010, for $234,000 cash. This amount is reflective of Hogan's
anzhelika [568]

Answer:

D. $1,800 Decrease

Explanation:

                                       book value      Fair value       adjustment

01 Jan                             10,000               8,000             2,000

Depreciation                  -1000                 -800                  -200

31 Dec                             9,000                7,200              1,800 Decrease  

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3 years ago
Refer to the accompanying balance sheet for the First National Bank. Assume the reserve ratio is 15 percent. If a check for $20,
Arlecino [84]
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7 0
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Which of the following is likely to happen if the Fed buys Treasury securities from banks?a. interest rate rises; investment fal
gayaneshka [121]

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Explanation:

The Fed buying treasury securities from banks is an expansionary policy when the government wants to increase the money in circulation and increase economic growth.

When the Fed buys Treasury securities from banks, this will lead to availability of funds as prices will be pushed higher and there will be a reduction in the interest rate.

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The Four Tops Company began operations on January 2nd. During the first 3 months of operations, only 3 jobs were worked on. Job
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Answer:

$81,500

Explanation:

As per the data given in the question,

The computation of the cost of goods manufactured is shown below:

Before that first we need to do following calculations

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= $35,000

Direct labor = $11,000 + $20,000

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Cost of goods manufactured = Direct material + Direct labor + Overhead applied

= $35,000 +$31,000 + $15,500

= $81,500

8 0
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