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On January 1, 2004, Tale Corporation had 30,000 of $10 par value common stock outstanding. On June 1, 2004, Tale Corporation issued 10,000 shares of its common stock at $15 per share. On November 30, 2004, Tale Corporation acquired 3,000 shares of Treasury Stock for $17 per share. the balance in Common Stock on December 31, 2004, as shown on the Statement of Stockholders' Equity is:Question 7 options.
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Marge's auto, which is used for business purposes only, is totally destroyed by a fire. The fair market value of the auto was $8,000 at the time of the fire and the adjusted basis was $10,000. Calculate the loss, and determine whether it is a ..
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