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Alex787 [66]
3 years ago
14

Kevin bought 265 shares of Intel stock on January 1, 2019, for $76 per share, with a brokerage fee of $165. Then, Kevin sells al

l 265 shares for $88 per share on December 12, 2019. The brokerage fee on the sale was $215. What is the amount of the gain/loss Kevin must report on his 2019 tax return
Business
1 answer:
garri49 [273]3 years ago
3 0

Answer:

$2800

Explanation:

To find the Gain or loss on the sell of shares we jus need to deduct cost of purchasing and brokerage fee from sale proceeds

12 DECEMBER 2019

Gain/loss = Sales proceeds- Total Cost to purchase - Cost to sell

Gain/loss= ($88 x 265) - $20,305 - $215

Gain/loss= $23,320 - $20,305 - $215

Gain/loss= $2800

WORKINGS

Purchase 1 Jan 2019

265shares x $76per share =  $20,140

Total cost to purchase = $20,140 + $165(brokerage fee)

Total cost to purchase =  $20,305

Cost to sell = $215(brokerage fee)

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5 0
1 year ago
____ cards contain a chip that can store a large amount of information as well as on a magnetic stripe for backward compatibilit
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Answer:

(B)

Explanation:

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These are smart cards (also referred to as chip cards) that are capable of storing large amount of information and also include a magnetic stripe at the back for backward compatibility.

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4 0
3 years ago
Isabella was hit by a car while she was walking on the road and sustained minor injuries. She filed a case against the car drive
Y_Kistochka [10]

Answer:

B) Individual differences in perception

Explanation:

We all perceive things differently than other people, or in other words, we all see thing differently than other people. Depending on our mood and where we actually are, we  perceive things differently. We also have the tendency to fill in blanks with some preconceived ideas, e.g. a person that suffered a prior accident will immediately imagine an action sequence resembling their own experience and will combine it with what they actually saw.

8 0
3 years ago
Tanning Company analyzes its receivables to estimate bad debt expense The accounts receivable balance is $300 000 and credit sal
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6 0
3 years ago
Which of the following is a correct application of Marginal Analysis? a. You buying 4 pairs of shoes for $240 because you are wi
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Answer:

Option d is the right one.

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The other options aren't sufficient for the scenario provided. But that will be the best alternative for option d.

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