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Kevin purchases 1,000 shares of Bluebird Corporation stock on October 3, 2011, for $300,000. On December 12, 2011, Kevin purchases an additional 750 shares of Bluebird stock for $210,000. According to market quotations, Bluebird stock is selling for $285 per share on December 31, 2011. Kevin sells 500 shares of Bluebird stock on March 1, 2012, for $162,500. a. What is the adjusted basis of Kevin's Bluebird stock on December 31, 2011? b. What is Kevin's recognized gain or loss from the sale of Bluebird stock on March 1, 2012, assuming the shares sold are from the shares purchased on December 12, 2011? c. What is Kevin's recognized gain or loss from the sale of Bluebird stock on March 1, 2012, assuming Kevin cannot adequately identify the shares sold?
Production and sales estimates for April are as follows:
gore range carpet cleaning is a family-owned business in eagle-vail colorado. for its services the company has always
Balance sheet format: Selected financial statement information and additional data for Johnston Enterprises is presented below. Prepare a statement of cash flows for the year ending December 31,2010,
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explain the concept of ldquobusiness ethicsrdquo. critically discuss the term ldquocomplex ethical dilemmardquo.
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On September 3, 2009, Able purchased S 1244 stock in Red Corporation for $6,000. On December 31, 2009 the stock was worth $8,500. On August 15,2010 Able was notified that the stock was worthless. How should able report this item on his 2009 and 20..
When a company decides to switch from LIFO to FIFO for inventory valuation, this change should be treated as what and Which formula would a bank or an investor most likely use when evaluating a company's cash flows?
x company manufactures a single product and estimates its total variable manufacturing costs each month. it is
prepare a cash receipts journal based on the information given below and post it to the accounts receivable subsidiary
the term tax shield refers to the amount of income tax saved by deducting depreciation for income tax purposes. assume
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