Question
Testator's will bequeathed my 100 shares of Acme stock to Karen and my 100 shares of Stark Industries stock to Lauren. Acme declared a one
Testator's will bequeathed "my 100 shares of Acme stock to Karen and my 100 shares of Stark Industries stock to Lauren." Acme declared a one for two stock dividend and Stark Industries merges with Wayne incorporated with testator receiving 50 shares in the new corporation, WSI.
Karen will receive 150 shares of Acme stock and Lauren will receive 50 shares of WSI stock.
Q1: How do you calculate that Karen gets 150 shares?
Q2: Does Lauren get 50 shares WSI stock AND her 100 shares of Stark Industries, or just the 50 shares?
Step by Step Solution
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Step: 1
Q1 To calculate that Karen gets 150 shares of Acme stock we need to take into account the one for tw...
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Frank Woods Business Accounting Volume 2
Authors: Frank Wood, Alan Sangster
13th Edition
1292085053, 9781292085050
