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grin007 [14]
3 years ago
11

Fact Pattern: Conner purchased 300 shares of Zinco stock for $30,000 in 1994. On May 23, 2013, Conner sold all the stock to his

daughter Alice for $20,000, its fair market value at the time. Conner realized no other gain or loss during 2013. On July 26, 2013, Alice sold the 300 shares of Zinco for $25,000.What amount of the loss from the sale of Zinco stock can Conner deduct in 2013?
Business
1 answer:
Paul [167]3 years ago
8 0

Answer: Loss from sale of Zinco stock = $10,000

Explanation:

Given that,

Conner purchased 300 shares of Zinco stock for $30,000 in 1994

On may 23, 2013 conner sold all the shares to his daughter for $20,000

This clearly shows that conner incurred a loss of $10,000 from selling it to his daughter.

Hence,

Loss of $10,000 should be deducted from sale of zinco stock in 2013.

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3 0
3 years ago
A tile manufacturer has supplied the following data: Boxes of tiles produced and sold 520,000 Sales revenue $ 2,132,000 Variable
svetoff [14.1K]

Answer:

unitary contribution margin= $2.52

Explanation:

<u>First, we need to calculate the total variable cost:</u>

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<u>Now, the unitary variable cost and the selling price:</u>

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unitary contribution margin= selling price - unitary variable cost

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7 0
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Answer:

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Between 1880 and 1890 how many companies began producing sporting goods products
Oksana_A [137]

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3 0
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