1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
scZoUnD [109]
4 years ago
9

Broward Corp. owns 1,500 shares of Silver Fox Corporation common stock. Broward Corp. purchased the 1,500 shares on April 17,200

9, for $20,000. On December 8, 2014, Broward sells 750 shares for $5,000. On January 2, 2015, Broward Corp. buys 250 shares of Silver Fox Corporation common stock for $1,750 and 50 shares of Silver Fox Corporation preferred stock for $1,000. The preferred stock is nonvoting, nonconvertible.
What is Broward's realized and recognized loss on the December 8 sale of stock?
Business
1 answer:
Alborosie4 years ago
6 0

Answer:

Disallowed loss = 1428.57

Explanation:

given data

                   Units      total cost

17 Apr, 09           1500   20000

8 Dec, 14             -750   -5000

2 Jan, 15              250    1750

2 Jan, 15                50    1000

solution

we get  here Broward  realized and recognized loss that is

The loss or gain on sale         (5000 - 20000 ÷ 2)    -5000

Allowed loss                          (750 ÷ 1050) × 5000     3571.43

Disallowed loss                                                             1428.57

You might be interested in
Use the information below to answer the following question. The following lots of a particular commodity were available for sale
Andreas93 [3]

Answer:

$1,510

Explanation:

LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.

The business had a total of 40 inventories.

The inventories sold = 40 - 20 = 20

The cost of the goods sold would first be alloted to the 3rd purchased inventory = 10 x $77 = $770

The remaining cost of goods sold would be allocated to the 2nd purchase of inventory = 10 x $74 = $740

Total = $740 + $770 = $1,510

I hope my answer helps you

8 0
3 years ago
By paraphrasing, an individual is:
natita [175]
By paraphrasing, an individual is:
ANSWER C. Putting another person's idea into different words or context
6 0
3 years ago
Read 2 more answers
Members of _________ organizations do not get paid and instead contribute their time or money because they like or admire what t
drek231 [11]
Non-profit organizations. (They don’t make money)

Hope I helped!
7 0
3 years ago
At its simplest, the term "sovereign' refers to the source of _____ in a political community.
hammer [34]
Independance. a sovereign state is one who has a permanent population, a defined territory, a government and so on.
3 0
3 years ago
In order to compete well and gain market share, contemporary businesses are changing to be more _______________. customer-driven
MaRussiya [10]
The answer to this problem is the first item in the choices which is the "Customer - driven". This will complete gain market share, an investment which focuses not only on the price of the product but on how the buyers and customers feel the satisfaction of the value of the product or services.
5 0
3 years ago
Other questions:
  • When you construct the replicating portfolio for the option in the previous question how many dollars do you need to invest in t
    14·1 answer
  • The order of presentation of activities on the statement of cash flows is a.operating, investing, and financing. b.operating, fi
    9·1 answer
  • in g Management of a local catering company would like the Food Division to transfer 10,000 containers of its final product to t
    5·1 answer
  • Which of these is true about the cash cow?
    6·1 answer
  • By promoting transparency, the government can improve
    13·1 answer
  • Define demand and supply​
    14·1 answer
  • What does the phrase high risk = High reward mean when it comes to investing?
    12·1 answer
  • Reedy Company reports the following information for 2012:
    15·1 answer
  • Which of the following should NOT appear on a resume?
    10·2 answers
  • A company issued 8%, 15-year bonds with a par value of $550,000 that pay interest semi-annually. The current market rate is 8%.
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!