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harkovskaia [24]
3 years ago
10

John bought 1,000 shares of intel stock on october 18, 2014, for $30 per share plus a $750 commission he paid to his broker. on

december 12, 2017, he sells the shares for $42.50 per share. he also incurs a $1,000 fee for this transaction.
a.what is john's adjusted basis in the 1,000 shares of intel stock?


b.what amount does john realize when he sells the 1,000 shares?


c.what is the gain/loss for
Business
1 answer:
posledela3 years ago
6 0

s for $42.50 per share. he also incurs a $1,000 fee for this transaction.

a.what is john's adjusted basis in the 1,000 shares of intel stock?

b.what amount does john realize when he sells the 1,000 shares?


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Explanation:

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Which entity types can generally use either the cash or accrual method of accounting for tax purposes
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S corporation

Sole proprietorship

Partnership

Explanation:

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Nami is very good at research is skilled at developing instructional materials and knows about libraries and information
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during an external information search, a consumer is most likely to enlarge his search and consider more alternative brands when
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<h3>What is <u>a product</u>?</h3>

Generally, A physical thing that is offered for sale for purchase, attention, or consumption is referred to as a commodity.

On the other hand, an intangible item that comes from the work of one or more humans is referred to as a service.

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8 0
1 year ago
The following information is available for Shanika Company for 20Y6: Inventories January 1 December 31 Materials $457,760 $563,0
Len [333]

Answer:

<h2>Shanika Company </h2>

Statement of Cost of Goods Manufactured For the Year Ended December 31, 20Y6:

Materials:

Beginning Inventory              $457,760

Purchases                                 850,190

Cost of materials available $1,307,950

Less Ending Inventory            563,040

Cost of materials used                          $744,910

Beginning Work in process                    823,970

Direct Labor                                            867,080

Factory Overhead                                  298,430

Less Ending Work in process               (765,730)

Cost of goods manufactured          $1,968,660

Explanation:

1) Data and Calculations:

a) Shanika Company for 20Y6:

Inventories          January 1     December 31

Materials               $457,760      $563,040

Work in process     823,970         765,730

Finished goods       791,920         782,630

Advertising expense $382,300

Depreciation expense-office equipment 54,050

Depreciation expense-factory equipment 72,630

Direct labor 867,080

Heat, light, and power-factory 28,720

Indirect labor 101,350

Materials purchased 850,190

Office salaries expense 296,720

Property taxes-factory 23,650

Property taxes-headquarters building 48,980

Rent expense-factory 39,980

Sales 3,980,690

Sales salaries expense 488,720

Supplies-factory 19,710

Miscellaneous costs-factory 12,390

b) Factory Overhead:

Depreciation expense       $72,630

Heat, light, and power         28,720

Indirect labor                       101,350  

Property taxes-factory        23,650

Rent expense-factory         39,980

Supplies-factory                    19,710

Miscellaneous costs            12,390

Total Factory overhead $298,430

c) The cost of goods manufactured is made up of the costs of materials, direct labor, work in process, and manufacturing overhead.

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