Ask Question, Ask an Expert


Ask Accounting Basics Expert

Cardinal Corporation has 1,000 shares of common stock outstanding. John owns 300 of the shares, John's grandfather owns 200 shares, John's daughter owns 300 shares, and Redbird Corporation owns 200 shares. John owns 60% of the stock in Redbird Corporation. How many shares is John deemed to own in Cardinal Corporation under the attribution rules of 318?

a) 300

b) 600

c) 720

d) 800

e) None of the above

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M938445

Have any Question? 

Related Questions in Accounting Basics

Question 1 if a cpa firm is being sued for common law fraud

Question 1. If a CPA firm is being sued for common law fraud by a third party based on materially false financial statements, which of the following is the best defense the accountants could assert? A disclaimer containe ...

Question - present arguments in support of a mnc favoring a

Question - Present arguments in support of a MNC favoring a debt-intensive capital structure. Present arguments in support of a MNC favoring an equity-intensive capital structure.

Presentation on cybercrimemayfield electronics inc an

Presentation on CyberCrime Mayfield electronics, Inc., an international company has asked your accounting firm to share with its employees the threat of cybercrime and how the company can protect itself corporately as we ...

Cablevision has been approached by the city of mirada to

CableVision has been approached by the City of Mirada to run its cable operations in 2016. After negotiating with key parties, CableVision has made the following agreements: - It will offer Mirada residents a basic set o ...

Assignment - review of current accounting issuesfor this

Assignment - Review of Current Accounting Issues For this assignment assume that you are the senior accountant working for a major firm. Question 1 - The CEO has forwarded to you an interesting article and requires you t ...

Assignment -1analysis assignmentinterpretation and

Assignment -1: Analysis Assignment Interpretation and comparison between the two companies' ratios (reading Chapter 15 will help you prepare the commentary). The comparison of the ratios is an important part of the proje ...

The morgan family lives in massachusetts they moor their

The Morgan family lives in Massachusetts. They moor their sailboat in Rhode Island. What might be a plausible reason for the possible inconvenience? Is the breadth and number of Federal excise taxes increasing or decreas ...

A company purchased and installed equipment on january 1 at

A company purchased and installed equipment on January 1 at a total cost of $72,000. Straight-line depreciation was calculated based on the assumption of a five-year life and no salvage value. The equipment was disposed ...

Identifying account titles-the following are independent

Identifying Account Titles- The following are independent situations. a. A new company is formed and sells 100 shares of stock for $12 per share to investors. b. A company purchases for $18,000 cash a new delivery truck ...

Practice questionswhat influences have encouraged new

Practice questions: What influences have encouraged new developments in management accounting?

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate