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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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Answer:

B. You made a profit of $75.00

Explanation:

shares x ( sale - buy)

20 shares x ( 35 & 1/4 - 31 & 1/2)

20 x (35.25-31.5)

20 x 3.75 = 75

The difference between purchase and sale price is positive, so eahc share yields a gain of $3.75

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3 years ago
During March, the production department of a process operations system completed and transferred to finished goods 25,000 units
amid [387]

Answer:

140,000 units and 130,250 units

Explanation:

The computations are shown below:

For Material cost:

= Transferred units × percentage of completion + ending work in process inventory units × percentage of completion

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=  110,000 units + 30,000 units

= 140,000 units

For Conversion cost:

= Beginning work in progress units × remaining completion + Transferred units × percentage of completion + ending work in process inventory units × percentage of completion

= 25,000 units × 45% + 110,000 units × 100% + 30,000 units × 30%

= 11,250 units + 110,000 units + 9,000 units

= 130,250 units

The remaining percentage would be

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4 0
3 years ago
A relocation of a short stretch of rural highway feeding into Route 390 northwest of Dallas is to be made to accommodate new gro
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Answer:

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Explanation:

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8 0
2 years ago
Where does AJ’s dad find AJ’s phone? A. Floor B. Board C. Passenger Side D. Behind the dashboard
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Answer:

The AJ's dad finds AJ's phone:

D. Behind the dashboard

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<span>·         </span>a partner becomes bankrupt;

<span>·         </span>the court orders it to be dissolved;

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