Solved: Arthur owns all 90 shares of class a voting common stock, Accounting Basics

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Arthur owns all 90 shares of class a voting common stock

Question: Arthur owns all 90 shares of Class A voting common stock and all 90 shares of Class C nonvoting common stock of ClayCo. Bill owns all 10 shares of Class B voting common stock and all 10 shares of Class D nonvoting common stock of X. Does Arthur control ClayCo under § 368(c)? Can ClayCo make a Subchapter S election? What if the charter of ClayCo is amended so that Class D shares have 1/ 10 vote per share?

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Accounting Basics: Arthur owns all 90 shares of class a voting common stock

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Accounting Basics: Arthur owns all 90 shares of class a voting common stock

Reference No:- TGS02548124

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