Controlled

C:3-52 Controlled Groups. Which of the following groups constitute controlled groups? (Any stock not listed below is held by unrelated individuals each owning less than 1% of the outstanding stock.) For brother-sister corporations, which definition applies?

a. Judy owns 90% of the single classes of stock of Hot and Ice Corporations.

b. Jones and Kane Corporations each have only a single class of stock outstanding. The two controlling individual shareholders own the stock as follows:

Save your time - order a paper!

Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlines

Order Paper Now

Stock Ownership Percentages

Shareholder Jones Corp. Kane Corp.

Tom 60% 80%

Mary 30% 0%

c. Link, Model, and Name Corporations each have a single class of stock outstanding.

The stock is owned as follows:

Stock Ownership Percentages

Shareholder Model Corp. Name Corp.

Link Corp. 80% 50%

Model Corp. 40%

Link Corporation s stock is widely held by over 1,000 shareholders, none of whom owns directly or indirectly more than 1% of Link s stock.

d. Oat, Peach, Rye, and Seed Corporations each have a single class of stock outstanding.

The stock is owned as follows:

Stock Ownership Percentages

Shareholder Oat Corp. Peach Corp. Rye Corp. Seed Corp.

Bob 100% 90%

Oat Corp. 80% 30%

Rye Corp. 60% Read Less

 

Looking for a Similar Assignment? Let us take care of your classwork while you enjoy your free time! All papers are written from scratch and are 100% Original. Try us today! Use Code FREE15