Coffee corporation has 2000 shares of common stock


Question - Coffee Corporation has 2,000 shares of common stock outstanding. John owns 700 of the shares, John's grandfather owns 100 shares, John's father owns 200 shares, John's cousin owns 700 shares, and Redbird Partnership owns 400 shares. John is a 50% partner in Redbird Partnership. How many shares is John deemed to own in Coffee Corporation under the § 318 attribution rules?

a. 700.

b. 1,000.

c. 1,100.

d. 1,700.

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Accounting Basics: Coffee corporation has 2000 shares of common stock
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