Pandora invested in the Box Mutual Fund by purchasing 1,000 shares on November 9, Year 1. On the first day of every month, the B
ox Fund pays a dividend that Pandora elects to have reinvested into the Box Fund. On average, Pandora received five additional shares per month. On December 15, Year 2, Pandora sold off her entire interest in the Box Fund (1,065 total shares). How many of the Box Fund shares sold by Pandora will qualify for the long-term holding period
Box Fund shares qualifying for the long-term holding period:
Total shares qualifying = 1,010
This is made up of:
Initial shares bought on Nov. 9 = 1,000
Reinvested shares on Dec. 1 5
Reinvested shares on Jan. 1 5
The remaining 55 (1,065 - 1,010) shares qualify for short-term holding periods as they lasted less than one year.
Explanation:
A long-term holding period is one year or more with no expiration. This implies that investment, including dividends paid into the account, that has a holding of less than one year will be a short-term hold.
The holding period of an investment is used to determine the taxing of capital gains or losses.
The portion of the second monthly payment made on January 31, 2021, which represents repayment of principal is $15600.
<h3>Mortgage liability </h3>
Mortgage liability limits the liability of potential third parties who were not involved when the mortgage was arranged. For example, if a mortgage is in arrears, the debtor has to pay the outstanding principal and interest, plus late payment and other charges.
<h3>What is mortgage asset or liabilities?</h3>
A current liability for
1) the principal payments that will be coming due within one year after the balance sheet date, and
2) any accrued interest that is owed as of the balance sheet date.
To learn more about current liability visit the link
True, an ethics officers' role is to act as a counsellor for employees as well as an investigator for the firm.
The Ethics Officer is the company's inner or internal control point for ethical and improper conduct, allegations, objections, and improprieties, as well as providing leadership and guidance on corporate governance problems.
