An S corporation has 30,000 shares of voting common stock and 20,000 shares of nonvoting common stock

Question:

An S corporation has 30,000 shares of voting common stock and 20,000 shares of nonvoting common stock issued and outstanding. The S election can be revoked voluntarily with the consent of the shareholders holding, on the day of the revocation, the following number of outstanding shares.

Shares of Nonvoting Stock 20,000 5,000 16,000 Shares of Voting Stock a. b. 10,000 20,000 C. d.

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... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...

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