Gerber Ltd . buys 2 , 0 0 0 of the 1 0 0 , 0 0

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Question:

Gerber Ltd

.

buys

2, 000

of the

100, 000

shares of Efron Inc., paying $

35.00

per share. Suppose Efron distributes a

10

percent share dividend. Later the same year, Gerber Ltd

.

sells the Efron shares for $

29.00

per share. Disregard commissions on the purchase and sale.

1 .

Compute Gerber Ltd

.

s new cost per share after receiving the share dividend.

2 .

Compute Gerber Ltd

.

s gain or loss on the sale of this long

-

term investment.

Related Book For answer-question

Accounting

ISBN: 978-0132690089

9th Canadian Edition volume 2

Authors: Charles T. Horngren, Walter T. Harrison Jr., Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood

See More Books

Posted Date: May 09, 2024 01:39 AM

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Gerber Ltd . buys 2 , 0 0 0 of the 1 0 0 , 0 0

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Gerber Ltds Share Dividend and Investment Results 1 New Cost Per Share After Share Dividend A share ... View the full answer

Accounting

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