Answer:
A periodic inventory method is a method where the inventory account is adjusted at the end of each accounting period and not continuously as with the perpetual method. All inventory purchased is recorded to a purchases account. Cost of goods sold is calculated by adding purchases to beginning inventory and then subtracting ending inventory. The following journal entries are examples of how to account for inventory under a periodic management method.
explanation:
Answer:
2,000,001 shares
Explanation:
To solve this question, we need to use the cumulative voting formula:
X = [(S x N) / (D + 1)] + 1
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X = minimum number of shares that must be owned = ?
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S = total outstanding shares = 10,000,000
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N = number of directors we want to elect = 1
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D = total number of directors to be elected = 4
X = [(10,000,000 x 1) / (4 + 1)] + 1 = (10,000,000 / 5) + 1 = 2,000,001
There are two voting procedures used to elect the members of a board of directors: the straight voting method and the cumulative voting method.
- The straight voting method favors majority stockholders since they receive one vote per stock per open seat which means that someone that has 50% plus 1 stock can actually get all the board members elected.
- Cumulative voting system assigns one vote per stock for the whole election, that means that a board member could be elected with 20% plus 1 vote. This voting system favors minority shareholders since someone with 50% plus 1 vote could only get 2 members elected by himself/herself.
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Answer:
Donor
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