Ask Question
17 June, 23:10

Lansing Company is owned equally by Jennifer, her husband Dan, and DeWitt Corporation, which is owned 50 percent by Jennifer and her sister Jane. Each of the three shareholders holds 100 shares in the company. Under the §318 stock attribution rules, how many shares of Lansing stock is DeWitt Corporation deemed to own?

(A) 100

(B) 200

(C) 250

(D) 300

+3
Answers (1)
  1. 18 June, 00:48
    0
    (D) 300

    Explanation:

    Total number of shareholders = 3

    Number of shares per shareholder = 100

    Total Shares owned by DeWitt Corporation = 100*3

    = 300

    Therefore, DeWitt Corporation is deemed to own 300 shares of Lansing stock.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Lansing Company is owned equally by Jennifer, her husband Dan, and DeWitt Corporation, which is owned 50 percent by Jennifer and her sister ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers