Cal Transit Company pays the regular hourly rate for the first 40 ...

[sjones]

Cal Transit Company pays the regular hourly rate for the first 40 hours worked, time and a half for hours 41 through 48, and double time for all hours in excess of 48 . Gayle Jordon worked 50 hours this week. Her regular hourly rate is 10.50 . Compute Jordan's total earnings.

Question 2

Kelly Jordan owned 220 shares of Diego Company's convertible preferred stock at 50 par value. He converted each share of preferred stock into two shares of common stock. If Kelly Jordan paid 50 per share for his preferred stock, and if common stock was selling at 31 per share on the date of conversion, compute the amount that Kelly Jordan's investment increased in value.

[kjohnson]

Answer to Question 1

588

Answer to Question 2

2,640