On 3 July 2014 Simon sold half of his shares in ABC Ltd for $12 a share

Fantastic news! We've Found the answer you've been seeking!

Question:

On 3 July 2014 Simon sold half of his shares in ABC Ltd for $12 a share plus $90 brokerage. He had originally acquired 2,000 shares in ABC Ltd on 2 September 1986 at a price of $5 a share plus $80 brokerage.

Required: Advise Simon of any capital gain/loss on sale of the shares

Related Book For answer-question

Modern Advanced Accounting In Canada

ISBN: 9781259066481

7th Edition

Authors: Hilton Murray, Herauf Darrell

See More Books

Posted Date: Mar 12, 2024 06:52 AM

See More Questions

On 15 October 2017, Desmond bought 5 000 shares in Red Ltd at a cost of R5 per share. On 25 October 2018, Red Ltd was taken over by Blue plc. The shareholders of Red Ltd received 3 shares in Blue plc...
You, CPA, are the tax partner in your own small accounting firm, You CPA LLP. You have just finished a meeting with two potential clients; Adnan and Hae-Min Ranger. Adnan and Hae-Min are members at...
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
for a manufacturing company product costs include all of the following except direct material overhead costs research and development costs direct labor costs
Simpson is a single individual who is employed full-time by Duff Corporation. This year Simpson reports AGI of $50,000 and has incurred the following medical expenses: Dentist charges...
A government agency has 6,000 employees. The employees were asked whether they preferred a four-day work week (10 hours per day), a five-day work week (8 hours per day), or flexible hours. You are...
What happens if you specify an invalid format string?
Presented below is information for Yu Co. for the month of January 2012. Cost of goods sold ...... $212,000 Rent expense ........ $32,000 Freight-out .......... 7,000 Sales discounts ......... 8,000...
Q1) Determine whether the roots of the each quadratic are real or nonreal and whether they are equal or unequal. (5 marks) a) 2x+3x-2=0 b) 4x+4x+1=0 Q2) Solve for X by factoring: 3x(x-3) + 22 = 2x +...
Shown below is the shareholders' equity of BM KID Corporation on January 1, 2021: BM KID Corpotation Shareholders' Equity January 1, 2021 (In Philippine Peso) Pain-in Capital 10% Preference Share...
As it has been already mentioned, deflation does not seem to be a positive phenomenon. As far as the following social groups are concerned, who would be most likely to benefit (in the short run) from...
The Global Health Expenditure Database provides comparable data on health care-related spending in most countries in the world. Access their Data Explorer here:...
Assume that in your country, the health of the hospitality industry improved after the last peak of the pandemic and that there might be further improvements in the coming weeks due to evidence of...
The extent of non-controlling interests in each of the combining entities before and after the business combination is not relevant to determining whether the combination involves entities under...
Design a survey to determine the influence of NASCAR sponsorships on consumers purchase behaviors. Ask 10 consumers to complete the survey and summarize the findings. Suggest how NASCAR might use...
A team of engineering students is testing their newly designed 200 kg practices. The raft must hold a 730 kg steel cube with edges of length 45.0 cm density of water in the pool is 1000 kg/m raft in...
Show that every group G with identity e and such that x * x = e for all x G is abelian.
There should never be a gain on an intercompany sale of equipment when the selling company uses the revaluation model under IAS 16 and the equipment is sold at fair value. Is this statement true or...
The following information has been assembled about Casbar Corp. as at December 31, Year 5 (amounts are in thousands): Required: Determine which operating segments require separate disclosures. Profit...
Does the historical cost principle or fair value reporting take precedence when preparing consolidated financial statements at the date of acquisition under the acquisition method? Explain.
Which if any of the following IS NOT a recognised method of estimating bootstrap confidence intervals? A. Percentile B. Bias corrected and accelerated C. Bias corrected D. Normal E. Jackknife
Which if any of the following statements about the bootstrap method is INCORRECT? A. The bootstrap method involves repeatedly drawing random samples from the original data B. The bootstrap method...
From the data in Table 18.3 calculate XXXX, the missing RR for Study 4. A. 0.81 B. 0.89 C. 1.05 D. 1.78 E. 2.34 Table 18.3 MI No treatment 95% CI Study n N n N Weight RR Lower Upper 1 3 284 31 4.2...

On 3 July 2014 Simon sold half of his shares in ABC Ltd for $12 a share

Question:

Expert Answer:

Absolutely I can help you advise Simon on any capital gainloss from the sale of his shares Calculati... View the full answer

Modern Advanced Accounting In Canada

Students also viewed these accounting questions