The number of shares of outstanding stock is equal to the number of shares authorized minus the number of shares issued
a. True
b. False
Indicate whether the statement is true or false
False
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Under SEC rules, a proxy document must:
A. state whether or not the proxy is coupled with an interest. B. grant the proxy holder rights to purchase or sell shares on behalf of the shareholder. C. prevent management and other shareholders from soliciting proxies. D. include information on any material transaction between a nominee and the corporation.
Trade dress: A) can be protected if there will be confusion
B) can be protected only if there is a registered trade name or trademark. C) can be protected if it is distinct. D) Both a and c
Data from Yochem Corporation's most recent balance sheet appear below: Cash$16,000 Marketable securities$24,000 Accounts receivable, net$39,000 Inventory$53,000 Prepaid expenses$11,000 Current liabilities$109,000 Required:Compute the company's acid-test (quick) ratio. Show your work!
What will be an ideal response?
Partners David and Goliath have decided to liquidate their business. The following information is available: Cash$100,000 Inventory 200,000 $300,000 Accounts payable$80,000 David, Capital 140,000 Goliath, Capital 80,000 $300,000 David and Goliath share profits and losses in a 3:1 ratio, respectively. During the first month of liquidation, half the inventory is sold for $70,000, and $50,000 of the accounts payable are paid. During the second month, the rest of the inventory is sold for $55,000, and the remaining accounts payable are paid. Cash is distributed at the end of each month, and the liquidation is completed at the end of the second month.Refer to the information provided above. Using a safe payment schedule, how much cash will be distributed to David at the end
of the first month? A. $42,500 B. $75,000 C. $22,500 D. $117,500