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Vitek1552 [10]
3 years ago
12

g resh bought 1,000 shares of Ibis Corporation stock for $5,600 on January 15, 2017. On December 31, 2019, she sold all 1,000 sh

ares of her Ibis stock for $4,800. Based on a hot tip from her friend, she bought 1,000 shares of Ibis stock on January 23, 2020, for $3,150. What is Ms. Fresh's recognized loss on her 2019 sale, and what is her basis in her 1,000 shares purchased in 2020?
Business
1 answer:
charle [14.2K]3 years ago
6 0

Answer:

Ms. Fresh loss will be $800 and Basis in new shares is $3,950

Explanation:

Her Loss on sale of stock would be computed as:

Loss = Sale Value - Purchase price

        = $4,800 - $5,600

        = ($800)

As she repurchased the IBIS stock within the expiry of 30 days, she is not allowed to deduct the LTCL (Long Term Capital Gain ) from gain. So, LTCL will be $0.

The basis in new shares is computed as:

Basis = Previous loss + Price paid

= $800 + $3,150

= $3,950

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Answer:

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3 years ago
If a firm faces ________________________, while the prices for the output the firm produces remain
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The correct answer is letter "B": lower costs of production.

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3 years ago
If the labor force is 320,000 and the total population 16 years of age or older is 400,000, the labor-force participation rate i
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80 %

Explanation:

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6 0
3 years ago
Last year, DJ's Soda Fountains, Inc. reported an ROE = 27 percent. The firm's debt ratio was 50 percent, sales were $9 million,
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Answer:

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3 years ago
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