Bob Wright ​

question 18

Short Answer

Bob Wright
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Bob Wright owned 100 shares of Lawson Company's convertible preferred stock at $10 par value. He converted each share of preferred stock into three shares of common stock.
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-Refer to Bob Wright. Compute the number of shares of common stock Bob Wright received when he converted the shares.​

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Definitions:

Antifraud Provisions

Legal measures designed to prevent fraudulent activities, especially in securities, financial transactions, and corporate practices.

1934 Act

Pertains to the 1934 Securities Exchange Act, which regulates U.S. securities trading and led to the creation of the SEC.

Securities Act of 1933

A U.S. law enacted to protect investors by requiring transparency in financial statements so investors can make informed decisions about securities.

Misrepresentation

Misrepresentation refers to the act of providing false or misleading statements about a material fact, which someone relies on to their detriment in a contractual agreement.