In each of the following cases, determine whether Inez is a related party a Inez owns 500 shares of XYZ Corporation 's common stock XYZ has 50,000 shares of common stock outstanding b Inez owns a 40 interest in the Tetra Partnership The other 60 interest is owned by 3 of Inez 's friends c Inez owns...

a Inez and XYZ are not related parties For a corporation to be a related party the taxpayer must own ...

In each of the following cases, determine whether Inez is a related party: a. Inez owns 500

Question:

In each of the following cases, determine whether Inez is a related party:
a. Inez owns 500 shares of XYZ Corporation's . XYZ has 50,000 shares of outstanding.
b. Inez owns a 40% interest in the Tetra Partnership. The other 60% interest is owned by 3 of Inez's friends.
c. Inez owns 40% of the stock in Alabaster Company. Her husband, Bruce, owns 30% and her brother-in-law, Michael, owns the remaining 30%.
d. Inez is a 100% owner of Nancy Corporation.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...