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Thepotemich [5.8K]
3 years ago
10

Winkler, a CPA, provided accounting services to a client, Thompson. On December 15 of the same year, Thompson gave Winkler 100 s

hares of Foster Corp. as compensation for services. The adjusted basis of the stock was $4,000, and its fair market value at the time of transfer was $5,000. The following year, Winkler sold the stock on February 15 for $7,500. What is the amount that Winkler should recognize as gain on the sale of stock?
Business
1 answer:
Lina20 [59]3 years ago
6 0

Answer:

the bonds will recognize a gain for 3,500

Explanation:

The adjusted basis of the stock will be the value in Winkler books.

So selling at 7,500 will recognize  gain for 3,500

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