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Problem - Comment on the following transactions.
a. Mort owns 500 shares of Pear, Inc. stock with an adjusted basis of $22,000. On July 28, 2019, he sells 100 shares for $3,000. On August 16, 2019, he purchases another 100 shares for $3,400. Explain why Mort's realized loss of $1,400 ($3,000 $4,400) 2 on the July 28 sale is not recognized and his adjusted basis for the 100 shares purchased on August 16 is $4,800.
b. Explain how and why your answer in part (a) would change if Mort purchased the 100 shares on December 27, 2019, rather than on August 16, 2019.
Cost-volume-profit analysis assumes all of the following EXCEPT: a. total variable costs remain the same over the relevant range b. units manufactured equal units sold c. all costs are variable or fixed
Adam, Barbara and Charlotte formed the equal ABC partnership; Adam and Barbara each contributed cash of $100,000 and Charlotte contributed land worth $130,000 with a basis of $120,000 and subject to a mortgage of $30,000. In the first year, (using..
Winegard Company has the following information available: What is the gross margin and net income
The Governmental Products Division's divisional segment margin is $255,000 and the Export Products Division's divisional segment margin is $59,800. The total amount of common fixed expenses not traceable to the individual divisions is $163,700. Wh..
Alex purchased $5000 worth of shares in a small biotech company on 1 Sept., What amount Alex include in his assessable income for the year as ordinary income
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Elizabeth's property had an adjusted basis of $9000 and a fair market value of $10,500, and Elizabeth gave Debbie $4500 in cash. Determine Debbie's and Elizabeth's realized gain of loss, recognized gain or loss and the basis in their new property.
the robinson company from problem 2 had net sale of 1200000 in 2010 and 1300000 in 2011a. determine the receivables
You have run a series of regressions of firm value changes at Motorola, the semiconductor company, against changes in a number of macroeconomic variables. The results are summarized here:
vandall corporation manufactures and sells a single product. the company uses units as the measure of activity in its
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