The following information was described in a note of Cebar Packing Co. During August, A. Belew Products

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The following information was described in a note of Cebar Packing Co.

“During August, A. Belew Products Corporation purchased 311,003 shares of the Company’s common stock which constitutes approximately 35% of the stock outstanding.

A. Belew has since obtained representation on the Board of Directors.”

“An affiliate of A. Belew Products Corporation acts as a food broker for the Company in the greater New York City marketing area. The commissions for such services after August amounted to approximately $20,000.”

Why is this information disclosed?

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Intermediate Accounting

ISBN: 9780471448969

11th Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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