Russell United has 28,500 shares of stock outstanding and has two open seats on its board of directors.Each share of common stock is granted one vote. How many additional votes are required to guaranteea seat on the board if the company were to use straight voting rather than cumulative voting?

In straight voting, each shareholder is entitled to cast one vote per share for each seat being…

Answered: Russell United has 28,500 shares of…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Similar questions

Presented below are different cases relating to various investors. Discuss and justify whether each investor has the power to direct the relevant activities of its respective investee. You may assume. unless otherwise stated. that the voting rights in each investee are used by the investors to elect members onto the investee's board of directors or to direct the relevant activities of the investee. a) Petro acquired 240 (80%) of the ordinary shares of Salt and 160 (40%) of its N class shares. Each ordinary share carries 1/2 voting tight and each N share carries 1 voting right. b) Petunia acquired 40% of the ordinary shares of Sam. Each ordinary share carries 1 voting The remainder of the voting rights in Sam are held by two individuals that are independent of Petunia. c) Polly acquired 20% of the ordinary shares of Sun. A further 60% of the ordinary shares of Sun are owned by Interim (Polly holds 70% of the shares in Intern*. d) Press acquired 20% of the voting rights in Slim. Press is…
How do the shareholders who own a company choose the actual company managers?
Scutaro Company reported net income in 2025 of $30, 000 and $27,000 in 2024. On January 1, 2024, Scutaro issued 10-year, $200,000 face value, 6% bonds at par (payable annually on January 1). Each $1,000 bond is convertible into 30 shares of Scutaro S2 par value common stock. The company has had 10,000 shares of common stock (and no preferred stock) outstanding throughout its life. None of the bonds have been converted as of the end of 2025. Scutaro also has adopted a stock option plan that granted options to key executives to purchase 4,000 shares of the company's common stock. The options were granted on January 2, 2024, and were exercisable 2 years after the date of grant if the grantee was still an employee of the company (the service period is 2 years). The options expired 6 years from the date of grant. The option price was set at $4. INSTRUCTIONS Prepare the journal entry Scutaro would have made on January 1, 2024, to record the issuance of the bonds. Prepare the journal entry to…
Kara wants to build a business. She has plenty of capital and potential investors and partners. She wants to avoid the burden of sole liability for her business and wants to be able to close the business when she is no longer interested in it. Which of the following would lead Kara to choose a sole proprietorship organization for her business? Avoidance of sole liability Ability to close the business easily Many potential investors/partners Plenty of capital
What does it mean when a minimum variance portfolio is dominated by one stock (almost 90% of that one stock)? And what could be said about this stock in relation to the other smaller-weighted stock?
Shareholders include customer ,interest , group, .governments ,etc :Select one True False
What are the Advantages & Disadvantages of Shares & Debentures
Current liabilities Total assets Retained earnings The following data are for the A, B, and C Companies: Variables Current assets A $150,000 $ 60,000 $300,000 Company B $170,000 $ 50,000 $280,000 C $180,000 $ 30,000 $250,000 $ 60,000 $ 80,000 $ 90,000 Earnings before interest and taxes $ 70,000 $ 60,000 $ 50,000 Market price per share $ 20.00 $ 18.75 $ 16.50 Number of shares outstanding 9,000 9,000 9,000 Book value of total debt Sales $ 30,000 $430,000 $ 50,000 $ 80,000 $400,000 $200,000 REQUIRED: A. B. Using MS Excel, compute the Z score for each company. According to the Altman model, which of these firms is most likely to experience financial failure?
Harmony is the Senior accountant of a Bank. Junior accountants of all the branches reportto her. While preparing for the final quarter sales report, she finds that two out of the fourbranches have failed to achieve the sales targets for the second consecutive quarter.According to the company policy, the branches that fail to achieve targets in twoconsecutive quarters have to be closed. Harmony feels sad for all the people losing theirjobs and decides that she will overstate the sales revenue generated by every branch andreport manipulated figures in the financial statements. Answer the following questions. Describe Harmony’s actions from ethical standpoint. Is she doing the right thing? What can be the consequences of Harmony’s actions. What are the risks involved? What would you suggest to Harmony? Please note this is not an essay.
Strassel Investors buys real estate, develops it, and resells it for a profit. A new property is available, and Bud Strassel, the president and owner of Strassel Investors, believes if he purchases and develops this property, it can then be sold for $156,000. The current property owner has asked for bids and stated that the property will be sold for the highest bid in excess of $100,000. Two competitors will be submitting bids for the property. Strassel does not know what the competitors will bid, but he assumes for planning purposes that the amount bid by each competitor will be uniformly distributed between $100,000 and $146,000. (a) What is the estimate of the probability Strassel will be able to obtain the property using a bid of $126,000? (Use at least 5,000 trials. Round your answer three decimal places.) (b) How much does Strassel need to bid to be assured of obtaining the property? $126,000 $136,000 $146,000 (c) Use the simulation model to compute the profit…
Assume that you recently graduated and have just reported to work as an investment advisor at the brokerage firm of Balik and Kiefer Inc. One of the firm’s clients is Michelle DellaTorre, a professional tennis player who has just come to the United States from Chile. DellaTorre is a highly ranked tennis player who would like to start a company to produce and market apparel she designs. She also expects to invest substantial amounts of money through Balik and Kiefer. DellaTorre is very bright, and she would like to understand in general terms what will happen to her money. Your boss has developed the following set of questions you must answer to explain the U.S. financial system to DellaTorre. Why is corporate finance important to all managers? Describe the organizational forms a company might have as it evolves from a start-up to a major corporation. List the advantages and disadvantages of each form.
On 1 July A Ltd acquired 100% of the share capital of B Ltd. At that date, the carrying amount of B Ltd's machinery was $600000. The fair value of the machinery on acquisition date was $710000. The company tax rate was 30%. What is the amount of the business combination valuation reserve that will be recognised on consolidation? (Solution = $ ?)

Recommended textbooks for you

Understanding Business

Management

ISBN:

9781259929434

Author:

William Nickels

Publisher:

McGraw-Hill Education

Management (14th Edition)

Management

ISBN:

9780134527604

Author:

Stephen P. Robbins, Mary A. Coulter

Publisher:

PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract…

Management

ISBN:

9781305947412

Author:

Cliff Ragsdale

Publisher:

Cengage Learning

Understanding Business

Management

ISBN:

9781259929434

Author:

William Nickels

Publisher:

McGraw-Hill Education

Management (14th Edition)

Management

ISBN:

9780134527604

Author:

Stephen P. Robbins, Mary A. Coulter

Publisher:

PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract…

Management

ISBN:

9781305947412

Author:

Cliff Ragsdale

Publisher:

Cengage Learning

Management Information Systems: Managing The Digi…

Management

ISBN:

9780135191798

Author:

Kenneth C. Laudon, Jane P. Laudon

Publisher:

PEARSON

Business Essentials (12th Edition) (What's New in…

Management

ISBN:

9780134728391

Author:

Ronald J. Ebert, Ricky W. Griffin

Publisher:

PEARSON

Fundamentals of Management (10th Edition)

Management

ISBN:

9780134237473

Author:

Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo

Publisher:

PEARSON

SEE MORE TEXTBOOKS

Russell United has 28,500 shares of stock outstanding and has two open seats on its board of directors. Each share of common stock is granted one vote. How many additional votes are required to guarantee a seat on the board if the company were to use straight voting rather than cumulative voting?