A company secretary works for a small company and is also the financial officer for the company who generally advises the directors on the day-to-day operations of the company. The company has a constitution, which limits the ability of the company secretary from borrowing any amounts over $5,000 without the matter being referred to a meeting of the board of directors. The company specifically created a constitution because the shares are all held by family members and the company secretary is not a family member. The company secretary does in fact organise a line of credit for the company for some $50,000, which is directly in breach of the company constitution. When the directors discover the company has a liability to a bank for nearly the full amount of $50,000, they take action to suspend the company secretary and inform the bank that, due to the company secretary exceeding his authority, the company is not responsible for inappropriate lending by the bank, and that the bank needs to find some solution against the company secretary personally. What is the liability of the company for the actions of the company secretary? (Minimum 200 words)
In: Accounting
Question 5
A company secretary works for a small company and is also the financial officer for the company who generally advises the directors on the day-to-day operations of the company. The company has a constitution, which limits the ability of the company secretary from borrowing any amounts over $5,000 without the matter being referred to a meeting of the board of directors. The company specifically created a constitution because the shares are all held by family members and the company secretary is not a family member. The company secretary does in fact organise a line of credit for the company for some $50,000, which is directly in breach of the company constitution. When the directors discover the company has a liability to a bank for nearly the full amount of $50,000, they take action to suspend the company secretary and inform the bank that, due to the company secretary exceeding his authority, the company is not responsible for inappropriate lending by the bank, and that the bank needs to find some solution against the company secretary personally. What is the liability of the company for the actions of the company secretary? (Maximum 200 words)
In: Accounting
1. On January 1, 2020, Blossom Ltd. had 498,000 common shares
outstanding. During 2020, it had the following transactions that
affected the common share account:
| Feb. 1 | Issued 150,000 shares. | |
| Mar. 1 | Issued a 10% stock dividend. | |
| May 1 | Acquired 162,000 common shares and retired them. | |
| June 1 | Issued a 2-for-1 stock split. | |
| Oct. 1 | Issued 40,000 shares. |
The company’s year end is December 31.Determine the weighted
average number of shares outstanding as at December 31, 2020.
(Round answer to 0 decimal places, e.g.
5,275.)
| Weighted average number of shares outstanding | enter the Weighted average number of shares outstanding rounded to 0 decimal places shares |
Assume that Blossom earned net income of $3,000,000 during 2020.
In addition, it had 80,000 of 7%, $100 par, non-convertible,
non–cumulative preferred shares outstanding for the entire year.
Because of liquidity limitations, however, the company did not
declare and pay a preferred dividend in 2020.
Calculate earnings per share for 2020, using the weighted average
number of shares determined above. (Round answer to 2
decimal places, e.g. 15.25.)
| Earnings per share | $enter Earnings per share in dollars rounded to 2 decimal places |
Assume that Blossom earned net income of $3,000,000 during 2020.
In addition, it had 80,000 of 7%, $100 par, non-convertible,
non–cumulative preferred shares outstanding for the entire year.
Because of liquidity limitations, however, the company did not
declare and pay a preferred dividend in 2020. Assume that net
income included a loss from discontinued operations of $400,000,
net of applicable income taxes.
Calculate earnings per share for 2020. (Round answers
to 2 decimal places, e.g. 15.25.)
| Earnings per share | ||
|---|---|---|
|
Income from continuing operations |
$enter a dollar amount rounded to 2 decimal places | |
|
Loss from discontinued operations |
$enter a dollar amount rounded to 2 decimal places | |
|
Net income |
$enter a total amount rounded to 2 decimal places |
In: Accounting
. "Building a Critical Skill: Thinking Critically" "some MBA programs now include courses in law, poetry, entrepreneurship, and biotechnology." The following video presentations take this idea even further, suggesting that all jobs or careers will require a higher set of skills than in the past. https://www.youtube.com/watch?v=NS2PqTTxFFc&feature=youtu.be
Can courses in law, poetry, biotechnology create a better leader?
2. Which skills listed in the video do you think are most important? Are you acquiring these skills in your current educational journey? Where?
(350 minimum words)
In: Economics
You need a new car and the dealer has offered you a price of $20,000, with the following payment options: (a) pay cash and receive a $2,000 rebate, or (b) pay a $5,000 down payment and finance the rest with a 0% APR loan over 30 months. But having just quit your job and started an MBA program, you are in debt and you expect to be in debt for at least the next 2 ½ years. You plan to use credit cards to pay your expenses; luckily you have one with a low (fixed) rate of 13.67% APR. Which payment option is best for you?
In: Finance
Trudy Pierre is the CFO of Vista Intl, a young financial software platform firm. Ms. Pierre is considering several projects in newly opening markets in Khazaksthan. She believes that her firm should take advantage of the current low interest rates. Thus, she would like to increase the debt equity ratio of the firm but is concerned about the consequences of increasing leverage. Although she studied finance in her MBA program, she does not remember much about capitol structure theory. Knowing that you have recently taken a class, what advice would you give her?
In: Finance
An incoming MBA student took placement exams in economics and mathematics. In economics, she scored 80 and in math 86. The overall results on the economics exam had a mean of 73 and a standard deviation of 10, while the mean math score was 67, with a standard deviation of 12. On which exam did she do better compared with the other students? Since she scored (nothing) standard deviations ▼ ( below or above) the mean in economics and (nothing) standard deviations ▼ (below or above) the mean in mathematics, she did better on the ▼ (economics or mathematics) exam. (Round to two decimal places as needed.)
In: Statistics and Probability
MBA 5010 Week 4 Integrative Assignment
This week, you’re going to build on the knowledge you gained. Your assignment is to deconstruct the economics underlying Airbnb. Specifically, I want you to answer the following questions:
• Does Airbnb capture a sufficient amount of any value generated to remain a viable business?
The purpose of this question is to provide you an opportunity to demonstrate your understanding of the economics of value creation. So, emphasize this aspect of your answer. Try to limit yourself to 500 words. Your answer will be evaluated based on correctness, completeness, and clarity. As always, be attentive to your writing.
In: Economics
Genetic variability in sexually reproducing organisms arises within
a) crossover events between nonsister chromatids.
b) crossover events between sister chromatids.
c) egg and sperm genetic recombination from distinct individuals.
d) egg and sperm genetic recombination from an individual.
e) none of the alternatives
In: Biology
If a company is not doing well financially. who is mostly at risk. and what is the responsibility to the employees, customers, vendors, etc?
In: Accounting