During 2022, Carla Vista Company purchased 17400 shares of Pharoah Corp. common stock for $391500 as...
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During 2022, Carla Vista Company purchased 17400 shares of Pharoah Corp. common stock for $391500 as a passive interest investment. The fair value of these shares was $381930 at December 31, 2022. Carla Vista sold all of the Pharoah stock for $27.25 per share on July 3, 2023, incurring $15770 in brokerage commissions. Carla Vista Company should report a realized gain on the sale of stock in 2023 of $66880. $82650. $92220. $76450. During 2022, Carla Vista Company purchased 17400 shares of Pharoah Corp. common stock for $391500 as a passive interest investment. The fair value of these shares was $381930 at December 31, 2022. Carla Vista sold all of the Pharoah stock for $27.25 per share on July 3, 2023, incurring $15770 in brokerage commissions. Carla Vista Company should report a realized gain on the sale of stock in 2023 of $66880. $82650. $92220. $76450.
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Carla Vista purchased 17400 shares of Pharoah Corp for 391500 The shares were sold at 2725 per shar... View the full answer
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Accounting Principles
ISBN: 9781119707110
14th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
Posted Date:
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