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Juli2301 [7.4K]
3 years ago
13

Ms. Pear owned 1,000 shares of YZ Corporation which she had purchased in Year 1 at a cost of $12 per share. In Year 3, she recei

ved a nontaxable 20% stock dividend. The shares were identical to those she already held. She ended the year owning 1,200 shares. In Year 5, the stock split 2 for 1 which increased her holdings to 2,400 shares at the end of the year. In Year 8, she sold 400 shares. What was her basis in the 400 shares of stock sold?
Business
1 answer:
Neko [114]3 years ago
7 0

Answer:

$2,000

Explanation:

Ms. Pear invested $12,000 in 1,000 shares of YZ Corporation. After the dividends she received and the stock split, she ended with 2,400 shares. Since she sold 400 shares, it represents 16.67% of her total shares (= 400 / 2,400). To determine the basis for the 400 shares she sold all we need to do is multiply 16.67% x $12,000 (initial investment) = $2,000

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2 years ago
The Marchetti Soup Company entered into the following transactions during the month of June:
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Explanation: Kindly find attached the transaction

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3 years ago
Lopez Plastics Co. (LPC) issued callable bonds on January 1, 2021. LPC's accountant has projected the following amortization sch
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c. 7%

Explanation:

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6 0
3 years ago
The sales budget for Modesto Corp. shows that 21,900 units of Product A and 23,900 units of Product B are going to be sold for p
rewona [7]

Answer:

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Explanation:

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B = S+E-I\\B= 21,900+4,290-3,900\\B= 22,290\ units

6 0
3 years ago
The bank forecloses on Lisa's apartment complex. The property had been pledged as security on a nonrecourse mortgage, whose prin
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Answer: $400,000

Explanation:

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3 years ago
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