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Novosadov [1.4K]
3 years ago
5

Kirby subscribed to purchase 100 shares of stock to be issued by Globule, Inc., an already existing corporation. Globule accepte

d the subscription. The price set forth in the subscription agreement was $10 per share. The par value of the stock was $8 per share. When the time came for Kirby to pay the amount of his subscription, Kirby paid only $6 per share, claiming that such amount represented the fair value of the shares. Globule delivered the stock certificates to Kirby, but demanded the other $4 per share. Is Kirby liable for the other $4 per share
Business
1 answer:
creativ13 [48]3 years ago
8 0

Answer: C. No, but he is liable for another $2 per share.

Explanation:

A stock is not to be issued below its par value as this is the lowest price that it is to be issued at. If a par value is $4 for instance, the stock cannot be issued for anything less than this $4.

In this scenario, the par value is $8 per share which means that Globule Inc. cannot issue this share for less than $8. Kirby in paying only $6, is still liable for $2 so that he can at least pay for the stock at its par value.

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Suppose you win the lottery and have two options: A. Take $1 million now. B. Take $1.2 million to be paid out as 300,000 now and
laila [671]

Answer:

A. Take $1 million now.

Explanation:

A. If we take $1 million now the present value of the money is $1 million.

B. If we choose to take $1.2 million paid out over 3 years then present value will at 10% will be;

$300,000 + $300,000 / 1.2 + $300,000/ 1.44 + $300,000 / 1.728

$300,000 + $250,000 + $208,000+ $173,611 = $931,944

The present value of option B is less than present value of option A. We should select option A and take $1 million now.

4 0
3 years ago
Competing in one or more countries or regions of the world causes strategy-making to be more complex because of
alexandr402 [8]
Here is the answer that best completes the statement:

What causes strategy-making to be more complicated as one competes in one or  more regions or countries of the world is due to existence of significant differences in each country in buyer preferences, growth potential and the sizes of the market. 
8 0
4 years ago
Eleni's landscaping company placed two orders. *The first order was for 13 bushes and 4 trees and totaled $487. *The second orde
Maksim231197 [3]

Answer:

Price of One Bush is $ 23

Explanation:

Suppose

bushes = B

trees = T

According to given condition:

13B + 4T = 487 (Eq: 1)

6B + 2T = 232 (Eq: 2)

Multiplying (Eq: 2) by 2

12B + 4T = 464 (Eq: 3)

Substractign (Eq: 3) from (Eq: 1)

13B + 4T - (12B + 4T) = 487 - 464

13B + 4T - 12B - 4T = 23

B = 23

By putting value of B in (Eq: 1)

(13 x 23) + 4T = 487

299 + 4T = 487

4T = 487 - 299

4T = 188

T = 188 / 4

T = 47

Price of One Bush = B = 23

5 0
3 years ago
Kyle plans to punch patrick. he calls patrick and tells him he will punch him tomorrow at 4:00 pm. at 2:00 pm the next day, kyle
stepan [7]
<span>Technically, Kyle lied to Patrick about the time at which he would punch him. However, there is no contract to prove that this was what was said on the phone (heresay). Additionally, it does not mention that there was any sort of agreement or consideration made between the two of them regarding this. And even if there was, there might be a legality issue due to the fact that punching is both assault and battery when committed on a person, so the contract may not even be enforceable. In terms of civil torts, Kyle didn't really commit anything that is pursuable in court, but did commit battery and assault. If Patrick fell or hit his head further and was injured/killed, he would be liable for an involuntary action, of which would be manslaughter if Patrick died. He would also be able to be sued for wrongful death by Patrick's family.</span>
3 0
3 years ago
Read 2 more answers
As the manager of Margarita Mexican​ Restaurant, you must deal with a variety of business transactions. Provide an explanation f
Shalnov [3]

Answer:

A. Debit Equipment and credit Cash.

  • You purchase equipment and you pay in cash.

B. Debit Dividends and credit Cash.

  • You paid cash dividends.

C. Debit Wages Payable and credit Cash.

  • You paid wages that you owed to your employees. Generally wages are paid at the end of the week and not all months end on a weekend. So you must record wages payable until you actually pay the wages.

D. Debit Equipment and credit Common Stock.

  • You received equipment in exchange for common stock.

E. Debit Cash and credit Unearned Revenue.

  • You received cash in advance for some food that you will deliver in the future.

F. Debit Advertising Expense and credit Cash.

  • You incurred in advertising costs and you paid them in cash.

G. Debit Cash and credit Service Revenue.

  • You sold meals and your clients paid you in cash.

7 0
3 years ago
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