Clara sold 200 shares of ABC stock for $22,500. Clara's investment portfolio includes the following purchases...
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Clara sold 200 shares of ABC stock for $22,500. Clara's investment portfolio includes the following purchases of ABC stock: 2006 100 shares at $100 per share 2008 50 shares at $110 per share 2012 125 shares at $130 per share 2013 75 shares at $125 per share Assuming Clara does not identify which shares she sold, she will recognize: 1) no gain or loss. 2) a $500 gain. 3) a $1,000 loss. 4) a $3,125 loss. Clara sold 200 shares of ABC stock for $22,500. Clara's investment portfolio includes the following purchases of ABC stock: 2006 100 shares at $100 per share 2008 50 shares at $110 per share 2012 125 shares at $130 per share 2013 75 shares at $125 per share Assuming Clara does not identify which shares she sold, she will recognize: 1) no gain or loss. 2) a $500 gain. 3) a $1,000 loss. 4) a $3,125 loss.
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Solution Answer is 500 gain Working Notes if she does not indentify wh... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
Posted Date:
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