Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 22 Nov 2017 My Price 4.00

Williams Industries

Williams Industries has outstanding 30 million common shares, 20 million Class A shares, and 20 million Class B shares. Williams has the right but not the obligation to repurchase the Class A shares if a change in ownership of the voting common shares causes J. P. Williams, founder and CEO, to have less than 50% ownership. Williams has the unconditional obligation to repurchase the Class B shares upon the death of J. P. Williams.

Required:

Which, if any, of the shares should be reported in Williams’ balance sheet as liabilities? Explain.

 

Answers

(5)
Status NEW Posted 22 Nov 2017 11:11 PM My Price 4.00

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