Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Accounting Basics Expert

Problem

Rust Pipe Co. was established in 1994. Four years later the company went public. At that time, Robert Rust, the original owner, decided to establish two classes of stock The first represents Class A founders' stock and is entitled to fifteen votes per share. The normally traded common stock, designated as Class B. is entitled to one vote per share. In late 2010. Mr. Stone, an investor, was considering purchasing shares in Rust Pipe Co. While he knew the existence of founders' shares were not often present in other companies, he decided to buy the shares anyway because of a new technology rust pipe had developed to improve the flow of liquids through pipes.

Of the 2, 050,000 total shares currently outstanding, the original founder's family owns 53, 025 shares.

What is the percentage of the founder's family votes to Class B votes?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M92809756

Have any Question?


Related Questions in Accounting Basics

Question - aja could tell that this patron was not her

Question - Aja could tell that this "patron" was not her store's usual type. She could see he did not care about fashion, and the customers that came to her shop in the Jacksonville mall were all tuned in to the latest s ...

Fundamentals of value creation in business assignment -

FUNDAMENTALS OF VALUE CREATION IN BUSINESS ASSIGNMENT - ACCOUNTING Requirements - 1. The following is a list of companies from the latest ASX. These companies are carefully chosen to suit this project and the learning ou ...

Question - maggie vitteta single works 38 hours per week at

Question - Maggie Vitteta, single, works 38 hours per week at $14.00 an hour. How much is taken out for federal income tax with one withholding exemption?

Question - lucky treasures enterprises issued 9 8-year

Question - Lucky Treasures Enterprises issued 9%, 8-year, $2,000,000 par value bonds that pay interest semiannually on October 1 and April 1. The bonds are dated April 1, 2013 and are issued on that date. The discount ra ...

Question - mcgill and smyth have capital balances on

Question - McGill and Smyth have capital balances on January 1 of $40,000 and $43,000, respectively. The partnership income-sharing agreement provides for (1) annual salaries of $20,000 for McGill and $10,000 for Smyth, ...

Assignment -discuss accountant and or auditors

Assignment - Discuss 'Accountant and /or auditor's responsibilities and contributions towards corporate governance'. Summary - Identify Common and different themes for 4 articles Managerial Implications for 4 articles Li ...

Question - hillside company enters into a contract with

Question - Hillside Company enters into a contract with Sanchez Inc. to provide a software license and 3 years of customer support. The customer-support services require specialized knowledge that only Hillside Company's ...

Question -nbsp international chemical companys special

Question -  International Chemical Company's special order also requires 1 000 kilograms of genatope, a solid chemical regularly used in the company's products. The current stock of genatope is 8 000 kilograms at a carry ...

Question - client - jacob zuzejacob commenced to trade on 1

Question - Client - Jacob Zuze Jacob commenced to trade on 1 September 2017 and prepared the first set of accounts for the sixteen months period ended 31 December 2018. Your firm advised Jacob to register for Value Added ...

Question - ajax inc issued callable bonds with a par value

Question - Ajax, Inc., issued callable bonds with a par value of $1,000,000 that require the payment of a call premium of $10,000. The bonds have a carrying value of $990,000. We call these bonds prior to maturity on Sep ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As